OpenAI rival AI21 Labs secures $53m, bringing total raised to $336m

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AI21 Labs has raised an additional US$53 million in its series C funding round, taking its total funding to US$336 million.

The AI startup is valued at US$1.4 billion, and its co-CEO Ori Goshen said the funds will be used to develop products and expand the team.

AI21 Labs provides a platform to build custom text-based business apps and offers Wordtune, a multilingual AI assistant for reading and writing.

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