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Oct 29, 2026

Cohere raises $4.5 billion at $20.5 billion valuation with Canadian government stake

Canadian AI company Cohere is raising $4.5 billion in a funding round led by Germany's Schwarz Group, with the Canadian government taking an equity stake. The round values the company at $20.5 billion.

Oct 29, 2026·2 sources
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Top claims

  • ▪Cohere Inc. Chief Financial Officer Francois Chadwick confirmed that the first close of the $5 billion financing round includes most of the target financing, making it the largest private fundraise in Canada's history upon completion
  • ▪The Government of Canada committed to invest up to $1.14 billion in Cohere Inc.
  • ▪Cohere Inc. reported that its annual recurring revenue increased by more than 165% by the end of September 2026 compared to September 2025

Topics

AI sovereigntyAI companies founding roundsAI IndustryAI investmentAI startupsBusiness & enterprise AIVenture capital funding

Related entities

GermanyCanada