Canada takes C$1.6 billion stake in Cohere's planned Series E
Cohere is seeking up to C$7 billion in a Series E at a valuation of nearly C$36 billion, including a C$1.6 billion stake from Ottawa.
By GennnAi··1 min read
CohereAleph AlphaSchwarz GroupNvidiaInovia CapitalBell VenturesBullhound CapitalGouvernement du CanadaFinancementSouverainetéFlash
Schwarz Group is leading the round, with Bell Ventures, Bullhound Capital, Nvidia and Inovia participating. The federal investment will be staged, tied to jobs and revenue targets. Cohere will invest $1.7 billion in Canadian computing infrastructure by 2030 and plans 1,000-plus jobs. It is also finalizing a merger with Germany's Aleph Alpha. The announcement took place in Montréal at the Mila research hub.
Source: BetaKit, published on October 29, 2026.