Cohere, a Toronto-based startup developing artificial intelligence for businesses, is in discussions with investors to raise capital in the ballpark of $500 million to $1 billion, a person with knowledge of the matter told Reuters Friday.
Insilico Medicine, backed by blue-chip investors like Warburg Pincus and Qiming Venture Partners, has 17 preclinical drug candidates so far and earlier this month signed a $500 million licensing deal with Italy’s Menarini.
Happy Monday! Ronnie Screwvala-led Upgrad is closing in on US edtech firm Udacity, with a fresh fundraise likely to seal the deal. Details of this and more in todays ETtech Morning Dispatch.
The latest data from PitchBook for 2023, when megadeals in artificial intelligence captured the imagination of investors, shows a persistent decline from the peak of US venture funding in 2021 when startups raised $348 billion.
As many as 70% of startups are investing in artificial intelligence (AI) to enhance product capabilities and internal efficiencies, according to a new report by technology industry apex body Nasscom in partnership with consulting firm Zinnov.