Grammarly, Rewritten: From Ukrainian Bootstraps to AI Billionaire
Grammarly announced on May 29th that it had secured a $1 billion non-dilutive growth financing
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ABOUT
The Recursive is returning with the second edition of the state of AI in CEE – the most extensive research of the future of AI in the innovation ecosystem in Central and Eastern Europe. From showcasing the front-running AI product companies to exploring funding opportunities, growth potential, and the talent pool available, and highlighting best practices and ongoing challenges from different countries, our purpose is to paint a picture of the current state of development of AI innovations in the region and demonstrate the region’s potential to international investors, talent, and corporates. Last year, the conclusions of our first report on the State of AI in CEE reached millions of people, including key investors, policymakers, media, founders, and ecosystem builders worldwide.
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THE FUTURE OF AI IN CEE: From the community for the community
We are not coming from MIT, Google, or Facebook, but we believe we have a better story. People built billion-dollar businesses using Keboola. And then the same people invested as angels into the platform and kept growing with us. We then almost doubled the revenue, and we saw that it was going in the right direction.
Central and Eastern Europe could have a real advantage in terms of AI development, in particular in any public-driven space: corporate and tax-related to space, education, and medicine. We just need to put our government resources together for businesses to make it more efficient.
AI is crucial for modern businesses in the advertising sector, as it enhances creativity and efficiency by automating routine tasks. With the demand for personalized content having surged by 20x in recent years, AI helps bridge the gap between the need for high-quality, customized ads and the constraints of time, budget, and expertise.
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