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iGenius, the artificial intelligence startup founded in 2016 by Albanian immigrant to Italy, Uljan Sharka, announced on Tuesday that it is seeking an investment worth 650 million euros, funding which would value the company at 1.7 billion euros.
Known for its cutting-edge AI models, the company iGenius recently launched "Italia", an open source model (LLM) created exclusively in the Italian language and capable of understanding linguistic and cultural nuances.
This round of investment would catapult iGenius into positioning as the 'unicorn' of the most elite AI startups on the European and world stage. The iGenius company has so far secured investments worth 1.05 billion euros.
iGenius AI models prioritize reliability and data security, ensuring safe use in production environments.
iGenius boasts an international team operating in North America and Europe, with offices in New York and a headquarters in Milan. The company is investing hundreds of millions of euros to build AI models that organizations can trust and adopt at scale.
'Today, we take a giant step forward with additional capital to drive our AI advances in regulated sectors. Our goal is to make data human, redefine the future of work and close the skills gap, empowering individuals and businesses to reach new heights.' said Uljan Sharka, CEO of iGenius.
The company believes that centralized and closed AI models cannot be compatible with regulated sectors such as finance or government. Sectors such as finance and public administration require rigorous data control to comply with current regulations and protect against breaches.
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