Canada’s Cohere targets C$7bn Series E for its sovereign AI
CEO and co-founder Aidan Gomez said the funding round represents 'the largest private capital raise in Canadian history'. Read more: Canada’s Cohere targets C$7bn Series E for its sovereign AI
Canadian AI start-up Cohere has successfully closed its Series E funding round, aiming to raise up to C$7 billion at a valuation of C$35.7 billion. This represents the largest private capital raise in Canadian history, according to the company's CEO and co-founder, Aidan Gomez. Cohere, headquartered in Toronto, offers sovereign AI solutions for regulated industries and governments, allowing organizations to have greater control over their data, infrastructure, and deployment.
The company has gained around 300 customers worldwide and has seen significant growth since launching its agentic AI platform, North. The funding will be used to advance Cohere's modelling and product roadmap, develop verticalized AI solutions for regulated industries, and invest in long-term compute infrastructure for training frontier-level enterprise models.
The company plans to scale its operations across North America, EMEA, and APAC to meet growing customer demand.
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