Cognition targets $1 billion raise at $40 billion valuation

The startup behind AI coding assistant Devin is reportedly seeking new capital at a massive valuation.

Reported45 sec read

A man holding a remote control in front of a computer

Aug 12: Cognition targets $1 billion raise at $40 billion valuation

Photo: Jakub Żerdzicki · Unsplash

What happened

AI startup Cognition is looking to raise $1 billion in new funding. The proposed investment would value the company at $40 billion. Details remain sparse, as the reported fundraising talks are still underway.

The context

Cognition launched Devin, an autonomous AI software assistant designed to handle software tasks independently. Capital continues to flow heavily into tools that automate coding and software development.

Sources

Tech in Asia ↗ via Google News Reported

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