The Toronto-based AI startup gave the run-rate figure to investors as it tries to raise up to US$500 million in equity financing at a US$6.3-billion valuation, sources told The Information. The sources said Cohere’s Canadian backers Inovia Capital and Radical Ventures were in discussions to invest again. Cohere did not immediately respond to a request for comment. (The Information, The Logic)
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The Toronto-based AI startup gave the run-rate figure to investors as it tries to raise up to US$500 million in equity financing at a US$6.3-billion valuation, sources told The Information. The sources said Cohere’s Canadian backers Inovia Capital and Radical Ventures were in discussions to invest again. Cohere did not immediately respond to a request for comment. (The Information, The Logic)
Talking point: Cohere sells its large language models and AI agent-builder tools to big businesses and governments. The firm has formed a web of partnerships to get its products in front of potential clients, including recent deals with Bell and Dell that make it easier for firms to adopt the technology. Cohere has raised about US$1 billion to date, and its most recent round was a US$500-million Series D at a US$5.5-billion valuation in July 2024.
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