Riyadh - Sharikat Mubasher: Prosperity7 Ventures, Aramco Ventures’ venture capital fund, participated in a CAD $7 billion Series E funding round for Cohere, a leading Canadian provider of sovereign AI for regulated industries and governments, at a CAD $35.7 billion valuation.
The round was led by Schwarz Group and included several institutional and strategic investors, including Bell Ventures, Bullhound Capital, the Government of Canada, Inovia Capital, and NVIDIA, the company announced in a recent press release.
Cohere will use the funding to advance its modelling and product roadmap, develop fully verticalized AI solutions for regulated industries, and invest in long–term compute infrastructure needed to train frontier–level enterprise models. It also plans to continue expanding across North America, EMEA, and APAC to meet growing customer demand.
The investment reinforces Cohere's belief that the next era of AI will give organizations greater choice and control over their technology, supported by secure deployment options and trusted partnerships.
