University of Toronto artificial-intelligence startup Cohere has raised US$125-million from Tiger Global Management LLC, the latest in a string of large-scale investments in Canada by the prolific New York financier, reported the Globe and Mail.
Cohere, which aims to make natural language processing (NLP) more accessible, first emerged from stealth in May 2021 and announced a $40 million USD Series A round in September. Since then, Cohere has opened up general access to its API and inked a partnership to leverage Google Cloud’s AI infrastructure, reported BetaKit.
Cohere is one of many Toronto AI startups founded by U of T alumni and faculty to raise large financing rounds in the past year. Others on this list include professor Raquel Urtasun’s autonomous vehicle startup Waabi, Deep Genomics, led by professor Brendan Frey, and semiconductor developer Untether, co-founded by Martin Snelgrove.