Source: Tech Crunch
By Kyle Wiggers
In a sign that there’s plenty of cash to go around for generative AI startups, Cohere, which is developing an AI model ecosystem for the enterprise, today announced that it raised $270 million as part of its Series C round.
Reuters reported earlier in the year that Cohere was in talks to raise “hundreds of millions” of dollars at a valuation of upward of just over $6 billion. If there’s credence to that reporting, Cohere appears to have missed the valuation mark substantially; a source familiar with the matter tells TechCrunch that this tranche values the company at between $2.1 billion and $2.2 billion.
Read full article: https://techcrunch.com/2023/06/08/ai-startup-cohere-now-valued-at-over-2-1b-raises-270m/
