Florian and Esther discuss the language industry news from over the past month, where NWN Carousel, a Massachusetts-based cloud communications company, secured a USD 6.5 million contract with Baltimore, Maryland, to provide AI-powered multilingual emergency 9-1-1 services.
Meta has unveiled Llama 2, its latest large language model, trained on 40% more data. Despite its extensive training, the model's focus on English data and limited coverage of other languages might restrict its suitability for non-English language applications.
In a financial results round-up, Straker Translations reported a 2% revenue growth with increased revenues from IBM and strong demand in Europe. After a successful 2022, ZOO Digital is now facing headwinds from Hollywood’s writers and actors strike. The pod also checks in on Keywords Studios’ and Honyaku Center’s financials.
Esther’s M&A corner features Belgian LSP ElaN Languages acquiring Lingua-World, expanding into the German market. Further north, LanguageWire, one of the largest LSPs in the Nordics, acquired Finnish LSP Delingua to further strengthen its position in the region.
Meanwhile, in funding, Phrase raised EUR 12m in debt financing from CIBC Innovation Banking, to support further development of the Phrase Localization Suite. Over in Wyoming, Language I/O has secured USD 8m in a Series A1 funding round to enhance its platform with generative AI technology and for hiring.
