Intel Capital-backed translation business Gengo raises $12m series B, taking its total fundraising to $21m.

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Gengo translates investments
May 7, 2013 • Pete Guest
Gengo, a crowdsourced translation service based in Japan, has raised $12m in its series B round from a consortium led by Intel Capital, the corporate venturing arm of the US-listed chipmaker.Venture capital firms Iris Capital and Infocomm and telecoms corporate venturing units NTT-IP and Saudi Telecom Ventures also participated.The investment takes the total money raised by Gengo to $21m. The company raised $5.25m in a series A round led by venture capital firm Atomico Ventures and incubator 500 Startups in September 2011, which followed $1.75m in seed funding in 2010 from angel investors including Last.fm co-founder Felix Miller.Gengo, launched in 2008, uses a network of 7,500 translators across 33 languages to provide translation services to corporates and has built interfaces so that media sites and e-commerce platforms can have their content automatically translated. The company has said that it will use the series B round to further expand the languages that it offers. The global market for translation services is estimated at $33bn.LEADERSHIP SOCIETY
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