Cohere announces initial close of Series E targeting up to C$7 billion

Cohere announced on Oct. 29 that its Series E had reached an initial close. The round is targeting up to C$7 billion at a C$35.7 billion valuation, but Cohere did not specify how much it secured at the initial close. The company calls it the largest funding round ever raised by a private Canadian company.

Cohere names Schwarz Group as the round’s lead investor. It lists Bell Ventures, Bullhound Capital, Inovia Capital, NVIDIA, Prosperity7 Ventures and the Government of Canada among the participants. In , Mark Carney said Canada is taking an equity stake in Cohere. Neither his post nor Cohere’s announcement gives the amount of Canada’s investment.