Feds to invest up to $1.6 billion in Canadian AI company Cohere in its $7-billion fundraise
The round will value Cohere at $35.7 billion, making it Canada’s most valuable private tech company
The federal government will invest up to $1.6 billion in the Canadian artificial intelligence startup Cohere Inc. According to the Winnipeg Free Press, Prime Minister Mark Carney announced the investment.
The investment is part of a planned $7-billion fundraising round for the company. The Financial Post reports that this round represents the largest-ever private capital raise in Canada.
Brief written by urgent.news from Financial Post, Winnipeg Free Press — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Ottawa investing up to $1.6B in Canadian AI company Cohere winnipegfreepress.com
- Ottawa to invest up to $1.6B in Canadian AI firm Cohere globalnews.ca
- Canada to invest up to $1.6B in Toronto-based AI company Cohere cbc.ca
