Size and valuation
Cohere announced the first close of its Series E funding round. The company aims to grow the round to as much as C$7bn, which would value it at C$35.7bn.
New backers
One of the notable new investors is the Government of Canada. According to the company's announcement, Nvidia is also among those backing Cohere.
Why it matters
Cohere is a Toronto-based company that builds AI models for enterprise use. The Canadian government's participation signals the country's preference for supporting domestic AI companies with public money.
Still unclear
The announcement did not detail the round's final size, its closing timeline or individual investor contributions. It also did not say when the remaining portion of the round would be completed.
