AI start-up Cohere raises $270 mn

Cohere, an AI foundation model company that competes with Microsoft-backed OpenAI, has raised $270 million in a VC funding round backed by Nvidia, Oracle and Salesforce Ventures, among others.
VC funding for techCohere’s series C round was led by Inovia Capital and joined by other investors such as DTCP, Mirae Asset, Schroders Capital, SentinelOne and Thomvest Ventures.

Since the launch of ChatGPT in November, the technology that can generate prose, imagery or computer code on command has attracted investor attention.

Last month, Anthropic, an AI startup which has received backing from Alphabet Inc’s Google,  raised $450 million in a new round.