Berlin, May 2024 – YPOG advised existing investor Atomico on the US$300 million financing round of AI-based translator DeepL. The round was led by Index Ventures. Other investors include Iconiq Capital, GIC, Ontario Teachers' Pension Plan and previous investors such as IVP and World Innovation Lab.
Its valuation of US$2 billion is said to make DeepL the highest valued AI company in Germany.
The online translation service, founded in Cologne in 2017 by Jaroslaw Kutylowski, intends to use the newly raised capital to expand its customer base. In addition to the existing branches in Germany, the Netherlands, Poland, the UK, Japan and the USA, the company also wants to expand in Latin America. The research departments of DeepL will also benefit from the capital injection.
YPOG has already advised Atomico on previous investments in Germany, including on DeepL’s previous financing round in the spring of last year.
Team
Dr. Benjamin Ullrich (Co-Lead, Transactions), Partner, Berlin
Tobias Lovett (Co-Lead, Transactions), Senior Associate, Berlin
Farina Weber (Transactions), Associate, Berlin
About Atomico
Atomico invests in technology companies in the early stages up to IPO with a particular focus on Europe, leveraging deep operational experience to supercharge their growth. Founded in 2006, Atomico has partnered with over 130 ambitious teams - including those at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Mobile, Pipedrive and Hinge Health. Atomico's team of founders, investors and operational leaders have been responsible for global expansion, hiring and marketing at companies from Skype and Google to Twitter and Uber. The firm currently has US$5 billion in assets under management.
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