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Nvidia and Salesforce double down on AI startup Cohere in $450M round
Canadian AI startup Cohere has raised $450 million in funding from returning investors such as Nvidia and Salesforce Ventures, as well as new investors including Cisco and Canadian pension fund PSP Investments, according to a source familiar the matter. This concludes the first tranche of Cohere's monthslong fundraising efforts, while the company is still in talks to raise more in the same round at $5 billion valuation, added the source, speaking on condition of anonymity. The funding marks a jump in valuation from Cohere's last private raise, when it was valued at $2.2 billion from investors including Inovia Capital last June.
This concludes the first tranche of Cohere's monthslong fundraising efforts, while the company is still in talks to raise more in the same round at $5 billion valuation, added the source, speaking on condition of anonymity. The funding marks a jump in valuation from Cohere's last private raise, when it was valued at $2.2 billion from investors including Inovia Capital last June. It competes with OpenAI, Anthropic and Mistral, which have also raised billions of dollars of strategic investors such as Microsoft, Google and Amazon.
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