Cohere announces initial close of Series E targeting up to CAD $7 billion at a CAD $35.7 billion valuation

Thu, Oct 29 23:45 UTC+8Updated Sat, Oct 31 20:55 UTC+8

Cohere unveiled a Series E targeting up to CAD $7 billion, which would represent a CAD $35.7 billion valuation. The companies of Schwarz Group lead; new investors include Bell Ventures, Bullhound Capital and the Government of Canada (equity); Inovia Capital, NVIDIA and Prosperity7 Ventures return. Funds go to the model and product roadmap, vertical AI for regulated sectors and long-term compute.

Why it matters

Cohere made the initial close of its Series E, targeting up to CAD $7 billion at a CAD $35.7 billion valuation, which it calls the largest private round in Canadian startup history.

Sources2

CohereMediaThu, Oct 29 23:45 UTC+8Cohere Announces Series E Fundraise Targeting CAD $7 Billion to Meet Surging Global Demand for Secure, Sovereign AIView original · via PR Newswire · Thu, Oct 29 23:45 UTC+8
@cohereXThu, Oct 29 23:49 UTC+8We're proud to announce the initial close of our Series E, targeting up to CAD $7 billion at a CAD $35.7 billion valuation; marking the largest private financing round in Canadian startup history.View original · Thu, Oct 29 23:49 UTC+8

Written by dalao.ai: the title, summary and why it matters are our own words. The original reports are the record; their publishers keep authorship.