(Toronto) Cohere announced that it has raised US 500 million, valuing the Torontoise company of artificial intelligence (AI) to 6.8 billion US.
This round of funding was led by Radical Ventures and Inovia Capital, with additional AMD Ventures, NVIDIA, PSP investments, Salesforce Ventures and the Ontario health care pension plan.
COHERE says this investment will accelerate the efforts of the Toronto company to develop agentic AI products.
According to the company, AI aims to release users from tedious tasks, leaving them more time for more interesting and stimulating tasks.
In addition to this funding, COHERE has announced that Joëlle Pineau, former vice-president of IA research at META, will become director of the company.
François Chadwick, a former employee of Uber and KPMG, will become a COHERE financial director.
