AI startup Cohere has acquired Ottogrid, a Vancouver-based platform that develops enterprise instruments for automating sure sorts of high-level market analysis.
Sully Omar, one of many founders of Ottogrid, introduced the deal Friday in a put up on X. He didn’t disclose the phrases.
Ottogrid will sundown its product, in accordance with Omar, however will give clients “ample discover” and “an affordable transition interval.”
“We’re very excited to hitch the Cohere crew and combine Ottogrid into Cohere’s … platform,” Omar mentioned in a press release. “By way of our work with Cohere, we’re [going to] dramatically impression how individuals can automate their workflows, enrich their knowledge, and scale their operations.”
Cohere didn’t instantly reply to a request for remark.
Cohere’s buy of Ottogrid comes as the previous experiences a little bit of company turbulence. In line with The Info, Cohere fell nicely in need of income projections the corporate ready in early 2023, lacking its goal for final yr by 85%.
The corporate instructed Reuters on Thursday that its annualized income just lately reached $100 million, following a strategic shift with a give attention to non-public AI deployments for purchasers in sectors like healthcare, authorities, and finance.
Ottogrid launched in 2023 as Cognosys, led by Omar and Homam Malkawi. It rebranded in October 2024 with a serious platform redesign that launched quite a lot of new integrations, instruments, and APIs.
As we speak, Ottogrid provides a “native desk interface” with AI-powered doc evaluation capabilities. Prospects can use it to extract knowledge from an internet site and put it aside on to a spreadsheet, for instance, or routinely enrich gross sales lead lists.
Ottogrid managed to lift $2 million in enterprise capital from buyers, together with GV (Google Ventures), Untapped Capital, Replit CEO Amjad Masad, Vercel CEO Guillermo Rauch, Cohere co-founders Ivan Zhang and Aidan Gomez, and others previous to its exit, in accordance with Crunchbase.
As a part of Cohere, Omar says that Ottogrid will focus totally on North, Cohere’s just lately launched ChatGPT-style software designed to help information employees with duties akin to summarizing paperwork.
