Cohere opens Series E targeting up to C$7B at a C$35.7B valuation
Cohere has completed the initial close of a Series E round led by Schwarz Group that targets up to C$7B at a C$35.7B valuation. The first-close amount was not disclosed.
Cohere has completed the initial close of a Series E round led by Schwarz Group that targets up to C$7B at a C$35.7B valuation. The company did not say how much the first close raised. Cohere describes it as the largest funding round ever raised by a private Canadian company. (Cohere; The Next Web)
New investors include Bell Ventures, Bullhound Capital and the Government of Canada, while Inovia Capital, Nvidia and Prosperity7 Ventures returned. Bloomberg, as cited by The Next Web, reported that Canada will invest up to $1.14B, that the full round would total up to $5B, and that the valuation is $20.5B before the new money. (The Next Web)