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Canada to invest up to $1.6B CAD in Cohere as part of $7B CAD Series E

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Canada's federal government plans to invest up to $1.6 billion CAD in Toronto-based AI company Cohere, part of a planned $7 billion CAD Series E that values Cohere at nearly $36 billion. Cohere announced an initial close of the round at Montreal's Mila research hub; Prime Minister Carney said the government is investing on a "commercial basis." Schwarz Group has committed to lead the financing, with Bell Ventures, Bullhound Capital and the Government of Canada among new investors. Existing backers Inovia Capital, Nvidia and Prosperity7 Ventures are also participating. Cohere says the money is meant to meet rising global demand for sovereign AI.

AI-generated from reports · 53 minutes agoUpdate

Latest updatesOct 29 23:53
Canada to invest up to $1.6B in Cohere as part of $7B Series E at $36B valuation

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Oct 29
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    Canada to invest up to $1.6B in Cohere as part of $7B Series E at $36B valuation

    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.

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