Germany-based Artificial Intelligence-driven translation technology platform Lengoo has successfully raised €18 million in Series B funding in a round led by Coldewey VC. The round also saw participation from existing investors EF Education First, Hub:raum, and Business Angels including Wing Venture Capital.
GermanyBased Lengoo 20m Seriescoldewe
The funding will help Lengoo in further expanding its business outside Europe, specifically into the US and Asia, and further scaling its high-quality translation technology. It will also aid in further enhancing the platform’s Artificial Intelligence algorithms to ensure accuracy and high-quality translations.
Lengoo was founded in 2015 by Simon Berger, Nikolas Emil Dreissig, and Alexander Dreissig and has quickly become the go-to platform for translating texts and documents into more than 40 languages. The platform was designed to meet the growing demand for accurate and reliable language translation by leveraging Artificial Intelligence (AI) and Machine Learning (ML).
GermanyBased Lengoo 20m Seriescoldeweytechcrunch
In a statement, Lengoo CEO Alexander Dreissig said, “With this Series B round of funding, we are looking to take our technology to the next level and use this investment to widen our reach outside Europe and expand our offering in Asia and the US. With Coldewey on board, we believe that supporting our growth plans and scaling the platform should be more straightforward than ever.”
Along with growing its customer base, the funding from Coldewey will also assist Lengoo in further developing its product development capabilities, recruiting and onboarding new customers and investors, and in ensuring a stable rate of growth for the business.
GermanyBased Lengoo 20m Seriescoldeweytechcrunch
Lengoo has so far attracted over 400 customers from various industries such as software, services, digital businesses, automotive, and the medical sector. In addition, the platform recently partnered with China-based translation provider Woplus to provide businesses and professionals with accurate translations in both Simplified and Traditional dialects of the Chinese language.
Moreover, the company also recently acquired multilingual content management system Hyprn, to enable its customers to create multilingual digital content more efficiently. Hyprn is set to be integrated into Lengoo’s platform shortly, allowing customers to create and manage digital content in multiple languages.
Conclusion
German-Based Lengoo recently raised €18 million in Series B funding in a round led by Coldewey VC. The funds will be used to further enhance Lengoo’s Artificial Intelligence algorithms, widen the company’s reach outside of Europe, and develop its product offerings. The company also recently acquired Hyprn and partnered with Woplus to better facilitate translations and create multilingual digital content.
FAQs
Q: Who led the Series B fundraising round for Lengoo?
A: The Series B fundraising round for Lengoo was led by Coldewey VC.
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