Cohere raises $500M to beat back generative AI rivals
Cohere is Planning to Double its 250-Employee Headcount This Year
Cohere, a generative AI startup co-founded by ex-Google researchers, has raised $500 million in new cash from investors including Cisco, AMD and Fujitsu.
The round, which also had participation from Canadian pension investment manager PSP Investments and Canada’s export credit agency EDC, values Toronto-based Cohere at $5.5 billion, according to Bloomberg. That’s more than double the startup’s valuation from June 2023, when it secured $270 million from Inovia Capital and others, and brings Cohere’s total raised to $970 million.
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