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The Economic Times
The Economic Times

AI coding startup Cognition raises $1 billion at $26 billion value

Cognition AI Inc. has raised more than $1 billion in a new funding round at a $26 billion valuation, the latest sign of strong demand for companies using artificial intelligence for software development.

Venture firms Lux Capital, General Catalyst and 8VC co-led the financing, the startup is set to announce on Wednesday. Other investors including Ribbit Capital, Atreides Management LP and Peter Thiel’s Founders Fund also participated. Cognition’s valuation, which includes the money raised, has more than doubled from a prior round in September.

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