AI startup Cohere, now valued at over $2.1B, raises $270M

In a sign that there’s plenty of cash to go around for generative AI startups, Cohere, which is developing an AI model ecosystem for the enterprise, today announced that it raised $270 million as part of its Series C round.
Reuters reported earlier in the year that Cohere was in talks to raise “hundreds of millions” of dollars at a valuation of upward of just over $6 billion. If there’s credence to that reporting, Cohere appears to have missed the valuation mark substantially; a source familiar with the matter tells TechCrunch that this tranche values the company at between $2.1 billion …
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