Cognition’s Coding Bot Devin Targets $300 Million in New Funding
Main Idea
Cognition, the company behind AI coding tool Devin, is working on a funding deal that could bring in over $300 million, marking a milestone for the company.
Key Points
1. Cognition had a $350 million valuation just months ago and is preparing for another increase in funding.
2. Founders Fund and Khosla Ventures are expected to join the next funding round.
3. Devin, the AI coding tool, scored 13.86% on the SWE-Bench benchmark for solving GitHub issues without assistance, up from the previous top score of 1.96%.
4. Devin still struggles with complex, real-world coding tasks.
5. Elon Musk's AI company, xAI, raised $10 billion in funding on July 1.
Description
Cognition , the company behind the artificial intelligence (AI) coding tool Devin, is working on a funding deal that could bring in over $300 million and raise its value to around $10 billion , according to a report by Forbes on July 24 .
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