AI Company Cohere Launches Series E of Up to $5 Billion at a $20.5 Billion Valuation

October 30: According to Cohere's official press release and Bloomberg, Canadian AI model company Cohere announced the first close of its Series E round, which targets up to C$7 billion (about $5 billion) at a valuation of C$35.7 billion (about $20.5 billion), roughly 3 times that of a year ago. The round was led by a company under Schwarz Group, with new investors including Bell Ventures, Bullhound Capital and the Government of Canada, while Inovia Capital, NVIDIA and Prosperity7 Ventures continued to participate. The funds will be used for model and product R&D, vertical AI solutions for regulated industries, long-term compute infrastructure, and expansion in North America, Europe, the Middle East and Africa, and Asia-Pacific.