Turnover of Tilde language technologies company drops 7.9% in 2021

• Published date: 02 August 2022
• Publication title: LETA

RIGA, Aug 2 (LETA) - Latvian language technologies company Tilde last year generated EUR 6.679 million in turnover, down 7.9 percent from a year before, while the company's profit nearly doubled to EUR 409,504, according to Firmas.lv business database.

The company's management said in a report that in 2021 Tilde successfully continued to develop language technology and translation software, as consistent activities in AI research and development of new technologies ensured last year's revenue and profit.

Despite the challenges posed by the Covid-19 pandemic, Tilde continued to expand in foreign markets as exports reached 59 percent of the company's total turnover.

The major projects implemented by Tilde in 2021 included a Lithuanian machine translation platform commissioned by Vilnius University and an Estonian machine translation platform commissioned by the Institute of the Estonian Language.

Last year, Tilde launched a translation portal allowing users from various countries to quickly and...