Coher, a man-made intelligence (AI) startup invested by Google, has joined the ranks of unicorns.

Coher is a Canadian AI startup founded in 2019 by researchers from Alphabet. It’s often known as a competitor of OpenAI because it has developed a conversational AI model much like ChatGPT.

Unlike Open AI, it’s attracting attention as an approach that focuses on targeting the company market by advocating a large-scale LLM (Large LLM) specialized for firms.

Bloomberg reported on the eighth (local time) that Koher succeeded in attracting 270 million dollars (about 350 billion won) of investment for the event of generative AI for enterprises while being recognized for its corporate value of about 2.2 billion dollars (2.85 trillion won).

This funding by Koher greatly exceeds the $175 million in investment it has raised to date. The whole amount raised also increased to $445 million.

This funding also included large US firms akin to Nvidia, Oracle, and Salesforce. The precise investment size of those firms just isn’t known. Nevertheless, it’s estimated that Koher didn’t receive a large-scale investment from a single company.

“We’re independent and is not going to take massive funding from a single company, especially a single cloud provider, as that might constrain us from doing things for enterprise customers,” said Coheer CEO Aidan Gomez. “We are going to work with quite a lot of cloud providers. “, he emphasized.

The news of Koher’s investment attraction got here out early last month. The Recent York Times reported on the 2nd (local time), citing an unnamed official, that Koher received an investment of $250 million.

Coher is concentrated on developing generative AI for the enterprise. Coher can safely distribute data in an existing cloud environment and supports firms to offer customized AI services. This provides industry-leading flexibility and data privacy.

“AI will likely be key to enterprise business success over the following decade,” Gomez said in a press release. “As interest in generative AI shifts as a solution to speed up business, businesses want to Coher.”

“The Coher team has been an early contributor to generative AI,” said Jensen Huang, CEO of Nvidia. “Their services will help enterprises world wide leverage its capabilities to automate and speed up their business.”

Reporter Park Chan cpark@aitimes.com