Business · Companies · 3 hrs ago
Cohere targets $5 billion in Series E funding
Canadian AI company Cohere is seeking $5 billion in a Series E funding round.
The company is based in Canada, but no location for the fundraising was given.
The planned round follows a $500 million raise announced in August 2025.
That earlier funding valued Cohere at $6.8 billion.
A Series E is a later-stage round in which a company seeks new investment.
The new target is much larger than Cohere’s previous announced raise, though the information given does not say how much it will secure.
No outcome or timeline for the fundraising was stated.
Cohere has completed the first stage of a Series E funding round and is seeking up to 7 billion Canadian dollars, about 4.7 billion euros.
The round is led by Germany’s Schwarz Group, with Nvidia and the Canadian government among the other investors.
The funding could value the Canadian AI company at about 35.7 billion Canadian dollars.
Canada’s prime minister said the government would invest up to 1.6 billion Canadian dollars in Cohere.
Cohere plans to strengthen its position in “sovereign AI.”
- Who
- Canadian AI company Cohere, led by CEO Aidan Gomez.
- What
- Cohere completed the first stage of a Series E round and is seeking up to 7 billion Canadian dollars.
- When
- The round was reported on October 29 and 30, 2026. The first stage’s completion date was not stated.
- Where
- Cohere is a Canadian company; Prime Minister Mark Carney announced the government investment in Montreal.
- Why
- Cohere wants to expand its position in sovereign AI. It is also expected to invest in computing infrastructure in Canada.
This story does not have two clearly opposing sides.
Cohere announced a US$500 million fundraise at a US$6.8 billion valuation.
Cohere said it had completed the first stage of its Series E round.
Prime Minister Mark Carney announced that Canada would invest up to 1.6 billion Canadian dollars in Cohere.
- Series E target
- Up to 7 billion Canadian dollars, about 4.7 billion euros
- Potential valuation
- About 35.7 billion Canadian dollars
- Lead investor
- Germany’s Schwarz Group
- Canadian government investment
- Up to 1.6 billion Canadian dollars
- Expected Canadian infrastructure investment
- About US$1.2 billion by 2030