Cohere Secures $270M in Series C Funding Led by NVIDIA and Oracle for Generative AI Platform

Company announced « cowherOn Thursday, the Canadian startup announced that it had closed a $270 million Series C funding round, and the Series C investment round aims to obtain financing from venture capital funds in order to expand the project.

The company stated in a statement that the financing round was led by investors, most notably “NVIDIA” and “Oracle”, in addition to a number of investment funds from the United States, Canada, South Korea, Germany and Britain.

The company indicated that the financing will be used to provide generative artificial intelligence mechanisms to various companies and institutions through its platform and to provide data preservation services in a secure manner, as well as customer support service.

Generative artificial intelligence is one of the models of artificial intelligence that is able to create new content rather than simply analyzing the available data or using it to generate new visual content.

The company recently released the first multilingual model equipped to read and understand about 100 of the world’s most common languages.

2023-06-09 01:50:40
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