Cohere Sets $20.5 Billion Pre-Money Valuation at First Close

Cohere completed the first close of a financing round that could raise up to $5 billion, putting the Canadian artificial intelligence startup’s pre-money valuation at $20.5 billion. The valuation is roughly double its level a year ago and excludes funds raised in the round. The company has investment commitments from the Canadian government and NVIDIA. Canada agreed to invest as much as $1.14 billion. A previously disclosed $600 million investment from European retailer Schwarz Group is also included in the round. Cohere did not disclose how much of the financing target had been finalized.

Source: TokenPost