# Canada stakes in Cohere's record $5.13B funding

> Canada invests $1.17B in Cohere's largest Canadian tech funding round.
- Title: Canada stakes in Cohere's record $5.13B funding · Dealroom
- Summary: 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…
- Keywords: canada, cohere, schwarz group, bell ventures, government of canada, nvidia, sovereign ai, startups, business, stakes, Cohere's, record
- Source: Dealroom — https://dealroom.co/news/168110-canada-takes-a-stake-in-coheres-record-c-7b-round-led-by-lidl-owner-schw
- Published: 2026-10-29T15:45:00+00:00
- Read time: 1 min
- Topics: canada, cohere, schwarz group, bell ventures, government of canada, nvidia, sovereign ai, startups, business
## 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.
## Key takeaway

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.