Posted 1/19/2024, 6:24:53 PM
Toronto AI Startup Cohere Seeks Up To $1 Billion In New Funding To Fuel Growth
- Cohere, a Toronto-based AI startup, is reportedly seeking to raise between $500M and $1B in new funding
- Cohere builds large language models that can be customized for applications like chatbots or text generation
- The company raised a $270M Series C round last June at a $2.2B valuation
- AI startups raised nearly $50B in funding in 2022, including 8 rounds of $500M+ and many other 9-figure deals
- While some predict an AI funding slowdown in 2023, it remains to be seen if huge valuations and raises will continue