The world's leading provider of AI communications DeepL has expanded its circle of investors to include IVP, Bessemer Venture Partners, Atomico and WiL; existing investors Benchmark and btov also participated in the financing round. The parties have agreed not to disclose the amount of the investment. The fresh capital increases the value of the company to 1 billion euros. A Taylor Wessing team led by Berlin partner Dr. Norman Röchert advised DeepL on all matters relating to the financing round. Taylor Wessing has been working alongside DeepL for several years, most recently the Berlin partner's team advised DeepL on its conversion to the legal form of an SE.
Based on powerful neural networks, the DeepL technology is able to translate even industry-specific terminology with linguistic precision and nuance. Millions of users and more than 20,000 companies worldwide already rely on the translation services of the German company. The new cooperations are primarily intended to accelerate research and development of the industry-leading AI translation technology and to open up new areas of application with an expanded product portfolio. The goal is to make global communication as effortless as possible thanks to sophisticated machine translation services.
DeepL is a Cologne-based AI company that strives to overcome language barriers through artificial intelligence. The exceptional quality of DeepL's machine translation services is based on proprietary improvements in neural network mathematics and methodology. The company was founded by CEO Jaroslaw Kutylowski and is supported by world-renowned investors.
Taylor Wessing Germany: Lead Dr. Norman Röchert (Partner), Yanick Sambulski (Associate), Moritz Meyer-Bruhns (Associate), Felix Paul (Professional Support Lawyer), all M&A/Venture capital, all Berlin, Maria Weiers (Partner, Düsseldorf), Daniel Mursa (Salary Partner, Düsseldorf), Alexander Künzelmann (Scientific assistant, Berlin), all Corporate law/M&A
VC and growth experts Dr Norman Röchert and Dr Armin Bartsch, advised lead investor One Peak on all legal aspects of the funding round.