TechTaffy

tech:

taffy

Cohere raises $270M

By TechTaffy Desk

Cohere has raised a $270 million Series C funding round. Inovia Capital led the round.

Nvidia, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne and  Thomvest Ventures also participated in Cohere’s Series C round, along with existing investor Index Ventures.

Cohere offers an AI platform for businesses, training massive language models and putting them behind an API, which can be accessed by an enterprise conversational AI agent, among other things. Organizations can use Cohere’s embedding model to build their own text analysis applications as well.

Cohere was founded by Nick Frosst, Ivan Zhang and Aidan Gomez, a co-author of Attention is all you need,a seminal paper that introduced the transformer model.

Cohere has offices in Toronto (Cananda), Palo Alto and San Francisco, and London (UK).

[Image courtesy: Cohere]

Just in

Artificial Intelligence

Amazon to invest up to $4B in Anthropic

Amazon will invest up to $4 billion in Anthropic, and will acquire a minority ownership stake in the company. The two companies also announced a strategic agreement aimed at the development of generative artificial intelligence (AI) models.  
Series A

Mesh raises $22M

San Francisco, CA-based Mesh, a company working on simplifying digital asset transfers, crypto payments, and account aggregation, has raised $22 million in a Series A funding round.
IT

Cisco to acquire Splunk for $28B

Cisco and Splunk have announced an agreement where Cisco will acquire Splunk for $157 per share in cash, summing up to approximately $28 billion in equity value.
Series A

DynamoFL raises $15.1M

San Francisco, CA-based DynamoFL, has raised $15.1 million in a Series A funding round.
Industry

NetApp, Google Cloud collaborate to provide enterprise storage solutions

NetApp has announced the expansion of its collaboration with Google Cloud to introduce Google Cloud NetApp Volumes.