From Dealroom · · 1m
Canada stakes in Cohere's record $5.13B funding
Canada invests $1.17B in Cohere's largest Canadian tech funding round.
In brief
Canada invests $1.17B in Cohere's largest Canadian tech funding round. Canada's government will invest up to $1.17B in Cohere, a Canadian AI firm, to create 1,000 tech jobs and build computing infrastructure in Canada by 2030. Originally reported by Dealroom.
Cohere's record funding
Toronto-based Cohere closed a Series E round targeting up to US$5.13B, valuing it at US$26.2B.
Canada's equity stake
Canada will invest up to US$1.17B in Cohere, with commitments to create 1,000 Canadian tech jobs and spend US$1.25B on computing infrastructure by 2030.
European backing
Schwarz Group, owner of Lidl and Kaufland, leads the round, with plans to host Cohere's models in its sovereign STACKIT cloud.
Growth metrics
Cohere reported 165% annual recurring revenue growth and a 20-fold customer base expansion to 300 companies by end of Q3 2026.
What's next
The round is an initial close; Cohere aims to finalize the deal while competing for compute and talent with larger US labs.
The one thing
Canada's government will invest up to $1.17B in Cohere, a Canadian AI firm, to create 1,000 tech jobs and build computing infrastructure in Canada by 2030.
