Technology

Deepset raises $14M to help companies build NLP apps

2 years ago

Anonymous $xqL1ZTchGQ

https://techcrunch.com/2022/04/28/deepset-raises-14m-to-help-companies-build-nlp-apps/

Natural language processing (NLP), the field of AI that involves parsing text for tasks including summarization and generation, is a fast-growing technology. According to a 2021 survey from John Snow Labs and Gradient Flow, 60% of tech leaders indicated that their NLP budgets grew by at least 10% compared to 2020, while a third said that their spending climbed by more than 30%. Fortune Business Insights pegged the NLP market at $16.53 billion in 2020.
Against this backdrop, Deepset, the startup behind the open source NLP framework Haystack, today announced that it raised $14 million in a Series A investment led by GV with participation from Harpoon Ventures, System.One, Lunar Ventures, and Acequia Capital. The capital infusion arrived alongside Deepset Cloud, a new subscription product for building NLP-powered software.

Deepset raises $14M to help companies build NLP apps

Apr 28, 2022, 1:38pm UTC

$xqL1ZTchGQ

https://techcrunch.com/2022/04/28/deepset-raises-14m-to-help-companies-build-nlp-apps/ > Natural language processing (NLP), the field of AI that involves parsing text for tasks including summarization and generation, is a fast-growing technology. According to a 2021 survey from John Snow Labs and Gradient Flow, 60% of tech leaders indicated that their NLP budgets grew by at least 10% compared to 2020, while a third said that their spending climbed by more than 30%. Fortune Business Insights pegged the NLP market at $16.53 billion in 2020. > Against this backdrop, Deepset, the startup behind the open source NLP framework Haystack, today announced that it raised $14 million in a Series A investment led by GV with participation from Harpoon Ventures, System.One, Lunar Ventures, and Acequia Capital. The capital infusion arrived alongside Deepset Cloud, a new subscription product for building NLP-powered software.