DeepL translates rising demand for AI into a $300 million investment

German AI company DeepL has closed a $300 million funding round at a $2 billion valuation led by Index Ventures with participation from ICONIQ Growth, Teachers' Venture Growth and existing investors. DeepL reports fast growth and says it now has over 100,000 business customers in more than 60 markets using its AI-powered translation and communication tools. CEO Jaroslaw Kutylowski says the industry is approaching a tipping point in the AI boom, where companies will separate the hype from proven solutions that add real value. Over the last year, DeepL has greatly expanded what it offers, such as adding the DeepL Write Pro AI writing assistant and adding support for new languages like Arabic and Korean. Investor Index Ventures sees DeepL as a careful innovator that focuses equally on business success and research.