Translation tech company Lengoo raises $20M to develop the NMT solution
As reported by Starting Up, Berlin-based Lengoo has raised $20 million in a Series B funding round led by the Dutch early-stage investor INKEF Capital. Redalpine, Creathor Ventures, Techstars, as well as business angels including former CPO of Deutsche Telekom Volker Pyrtek, also joined the round.
Founded in 2014 by CEO Christopher Kränzler, Alexander Gigga, Philipp Koch-Buettner, Lengoo develops technology that solves translation for the enterprises. It focuses on transferring expert knowledge from the world’s best specialists into custom-trained AI systems, which then support users in their everyday work.
The main feature of Lengoo’s software is a customization of the translation model to each company’s language. By gathering termbases, glossaries, and any digitally available monolingual content from the corporate customers, Lengoo enables them to implement the specific terminology of their business into the NMT system.
Currently, Lengoo has more than 3,000 enterprise customers in the DACH region, the UK, and Scandinavia − including companies such as Sixt, Sunrise Communications, HelloFresh, and Michelin.
The proceeds will allow Lengoo to drive forward the development of its NMT solution, making its key product better and faster.