The Canadian AI Index

Companies / Cohere

Cohere

Cohere is a foundation model company based in Toronto, Ontario. It had raised C$9.1B as of November 2026, most recently a C$7B Series E in October 2026 led by Schwarz Group.

Enterprise foundation models and sovereign AI (North platform).

cohere.com

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Founded
2019
HQ
Toronto, ON
Category
Foundation Models
Status
Active
Disclosed raised
C$9.1B

Funding history

RoundDateAmountInvestors
Series EOct 29, 2026 C$7BSchwarz Group (lead); Bell Ventures, Bullhound Capital, Government of Canada, Inovia Capital, NVentures (Nvidia), Prosperity7 Ventures. A target of up to C$7B that has not closed. Cohere announced an initial close on Oct 29 2026 without saying how much has been committed, so the amount shown is the target. Led by Schwarz Group; Bell Ventures, Bullhound Capital and the Government of Canada are new, and Inovia Capital, Nvidia and Prosperity7 Ventures returned. C$35.7B valuation. Ottawa's equity investment of up to C$1.6B is part of the round and comes in stages, tied to Cohere's commitments to create at least 1,000 Canadian technical jobs and put at least C$1.7B into computing infrastructure in Canada by 2030.
Bridge/ExtensionSep 24, 2025 US$100MNexxus Capital Management, Inovia Capital, Radical Ventures, NVentures (Nvidia), AMD Ventures, BDC Growth Venture Fund. Second close of the Aug 2025 round; BDC and Nexxus Capital Management new; Inovia, Radical, Nvidia, AMD returning; US$7B valuation; total raised ~US$1.6B
Venture roundAug 14, 2025 US$500MRadical Ventures and Inovia Capital (co-leads); AMD Ventures, NVentures (Nvidia), PSP Investments, Salesforce Ventures, HOOPP. C$690M; no series letter given by Cohere; oversubscribed; co-led by Radical Ventures and Inovia Capital; AMD Ventures, Nvidia, PSP Investments, Salesforce Ventures returning, HOOPP new; US$6.8B valuation; ~US$100M ARR
Series DJul 22, 2024 US$500MPSP Investments (lead); Cisco, Fujitsu, AMD Ventures, Export Development Canada, NVentures (Nvidia), Salesforce Ventures. Series D at a US$5.5B valuation.
Venture roundJul 18, 2023 UndisclosedSAP (lead). Strategic investment by SAP, separate from the Series C; amount undisclosed.
Series CJun 8, 2023 US$270MInovia Capital (lead); Index Ventures, NVentures (Nvidia), Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures. Announced Jun 8 2023.
Series BFeb 16, 2022 US$125MTiger Global (lead); Radical Ventures, Index Ventures, Section 32. Announced as US$125M.
Series ASep 7, 2021 US$40MIndex Ventures (lead); Section 32, Radical Ventures, Geoffrey Hinton, Fei-Fei Li, Pieter Abbeel, Raquel Urtasun

Founders

Also backed by

Investors listed on their own portfolio pages or in reported coverage. Round details are not tracked in the Index.

Mistral Venture Partners

In the newsletter

Sources

Data as of November 10, 2026.

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