Cohere announces initial close of a Series E targeting C$7 billion

What happened

Cohere announced an initial close on October 29, targeting up to C$7 billion at a prospective C$35.7 billion valuation. Schwarz Group companies led the commitments; NVIDIA was among returning investors. The target was not the amount reported as already closed. [1]

Canada separately described an equity commitment of up to C$1.6 billion, paid in stages with progress reporting. Cohere committed to at least 1,000 Canadian technical jobs and C$1.7 billion in additional Canadian computing infrastructure by 2030, while retaining Canadian incorporation and headquarters. [3]