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Funding
Cohere to raise USD 500 million–1 billion to compete in AI market
Foundation Models
Jan 19, 2024
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Foundation Models

Foundation Models

Jan 19, 2024

Cohere to raise USD 500 million–1 billion to compete in AI market

Funding

  • Toronto-based AI startup Cohere is reportedly in talks with investors to raise substantial capital, ranging from USD 500 million to USD 1 billion. In June 2023, the company secured USD 270 million in a funding round, valuing it at USD 2.2 billion.

  • Cohere plans to utilize the funds raised to develop AI, acquire talent, and expand its sales activities. The startup, founded in 2019, aims to strengthen its position in the AI market and enhance its technology offerings.  

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