Cohere announces initial Series E close, targets up to C$7 billion

Cohere announced the initial close of a Series E targeting up to C$7 billion in total. It did not disclose how much capital was included in the initial close. The C$7 billion figure is the full round’s target, not an amount already secured.

Schwarz Group is leading the financing. Cohere identified Bell Ventures, Bullhound Capital and the Government of Canada as new investors, with Inovia Capital, NVIDIA and Prosperity7 Ventures returning.

The Canadian government committed up to approximately C$1.6 billion in equity, with the investment to be made in stages. Cohere did not disclose individual commitment amounts for the other named investors.

Cohere said the financing would support its model and product roadmap, industry-specific AI products, long-term computing infrastructure and expansion across North America, Europe, the Middle East, Africa and the Asia-Pacific region. Separately, Cohere recently added confidential computing to Model Vault, providing context for its secure-AI product development.

The company said a fully targeted C$7 billion round would represent a C$35.7 billion valuation. That is Cohere’s own framing for the completed target, not a disclosed valuation for the initial close.