Language I/O (LIO) recently announced an $8 million Series A1 funding round led by Joint Effects, a venture capital firm based in Boston, MA. The largest investor in the round was the Wyoming Business Council’s Wyoming Venture Capital (WYVC) Fund. This funding round will help expand the LIO machine learning (ML) team and platform that integrates generative AI to improve real-time translation quality and ultimately generate language-specific, LLM-powered chatbots. The translation service market is expected to reach $47.21 billion at a 2.60% CAGR by 2030 due to the rising support to develop multilingual translation technology. This funding round marks the first investment made by the Wyoming Business Council’s WYVC Fund which aims to support the innovation and growth needs of entrepreneurs across the state.
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