FUNDING · STARTUPS · #2787
Cohere announces initial close of Series E targeting CAD $7B to build frontier AI outside US/China
Cohere announced an initial close of its Series E funding round, targeting up to CAD $7 billion, led by Schwarz Group with participation from investors including Bell Ventures, Bullhound Capital, Inovia Capital, NVIDIA, Prosperity7 Ventures and the Government of Canada. The company says it will use the funds to build frontier AI models and a secure platform for institutions to run and own AI under legal jurisdictions outside the U.S. and China, arguing democracies need more independent builders.
KEY POINTS
- Cohere announced an initial close of its Series E funding round, targeting up to CAD $7 billion, led by Schwarz Group with participation from investors including Bell Ventures, Bullhound Capital, Inovia Capital, NVIDIA, Prosperity7 Ventures and the Government of Canada.
- The company says it will use the funds to build frontier AI models and a secure platform for institutions to run and own AI under legal jurisdictions outside the U.S.
- and China, arguing democracies need more independent builders.
WHY IT MATTERS
The round and government participation signal a large, non‑U.S./non‑Chinese effort to build frontier AI and a push for vendor and sovereignty choices in critical infrastructure and public services.