Series C+ · 2026-10-29 · AI
Cohere raises $5.11B
88
AI Score
Amount
$5.11B
Round
Series C+
Lead
Schwarz Group
HQ
Toronto, CA
Why it matters: The deal shows how a national government can take a direct equity stake in a frontier AI lab, and it sets a valuation benchmark for Cohere against larger US rivals.
Canada's federal government will put up to $1.6 billion CAD into Cohere as part of the Toronto company's planned $7 billion CAD Series E.
- Participants:
- Government of Canada, Bell Ventures, Bullhound Capital, Inovia Capital, Nvidia, Prosperity7 Ventures
- Source:
- BetaKit ↗ · Midu summary
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