Atlassian, Telstra Ventures back Israeli AI developer play
Make us a preferred source
Make us a preferred source on Google
The news: Atlassian and Telstra's VC arm Telstra Ventures are putting their money behind Israeli tech company Tabnine and its AI-backed assistant for software developers, The Australian reports.
The numbers: Atlassian was among a group of investors pumping USD25 million ($39 million) into Tel Aviv-based startup Tabnine. The Series B funding was led by Telstra Ventures and brought the project's total funding to USD42.5 million.
The context: Tabnine claims to be the first company to develop an AI-powered coding assistant. It now serves more than 1 million software developers and generates roughly 1% of the world's code, up to half of which is automated.
What they said: "Generative AI is fundamentally changing the software development lifecycle," Tabnine co-founder and chief executive Dror Weiss said in a statement.
"These new tools have the potential to bring a wave of automation and simplification that will make the methods we use today look antiquated and unnecessary."
The sources: Tabnine Media Release, The Australian
