The host of the Canadian company AI raised 500 million US dollars when estimated at $ 6.8 billion in August.
Cohere Cohere, based in Toronto of artificial intelligence (AI), attracted $ 100 million in the form of a new financing, which increased its estimate to $ 7 billion.
“Cohere is a leader in the generative space of AI, which is key to our Canadian enterprise to achieve a significant increase in performance for BDC as a development bank.”
Geneviev Burter,
BDC
Financing passes through the second closure of the round of US dollars in the amount of 500 million US dollars, involved in $ 6.8 billion. Last monthThe field is currently the Round investors include the Business Development Bank of Canada (BDC) and Nexsus Capital Management. They join previously open investors, such as AMD Ventures, the Ontario, Inovia, NVIDIA, Pension Investment Pension Investment (PSP), radical enterprises and SalesForce Ventures pension.
“Cohere is a leader in the generative space of AI, which is the key to our Canadian enterprise to achieve a significant increase in performance, and for the BDC as a development bank,” said BDC Capital Executive President Jeneviève Boutllier.
Cohere announced new financing at the beginning of the AI conference All in On Wednesday morning, where several leaders of the company should perform. On the scale, they stated that he would use additional funding to accelerate the development and global implementation of Enterprise IA technologies in state and private sectors. The company added that it quickly scales its operations in the markets of North America, the Asia-Pacific region (APAC), as well as in the European, Middle East and African (EMEA) to satisfy the growing demand.
Casing He opened the office In Paris at the beginning of this month, to serve the “central center” for its EMEA operations. In recent months, Cohere shared plans to open offices in South Korea And MontrealField
In addition to the new financing, Cohere also announced an expanded partnership with the semiconductor giant AMD. As part of the partnership, Cohue clients will have access to AMD Instinct The infrastructure of the graphic processor for AI proposals, and AMD will integrate Cohere Northern platform In its portfolio of AI of the internal enterprise. Cohere focused on growth through strategic partnerships with global enterprises, including Dell, SAPIN BellIN LGAnd FujitsuField
Founded in 2019 by former Google researchers, Cohere creates large language models (LLMS) that feed the chat bots and other artificial intelligence applications for companies and state institutions. He is faced with rigid competition from the largest American LLM developers, such as Openai and Anpropic, who collected more money, as well as technological giants with deep pockets, such as Google and Meta, which create their own AI models. Cohere has attracted about 1.6 billion US dollars today and has grown to 450 employees.
Reuters has reported This jointly went into an annual income of $ 100 million in May of this year. In accordance with InformationCohere informed the investors that by the end of 2025 he expected to bring more than 200 million US dollars in annual income.
While both figures are rapid growth compared to annual income of $ 35 million. USA. reportedly much lower than previous forecasts of company sales, evaluating them for competitors Openai And AntropField
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