AI startup Cohere may have some challenges of its own, but it's also making deals — market research tooling startup Ottogrid announced Friday that it's being acquired by Cohere.
What challenges? The Information reports that Cohere fell short of revenue targets by 85% last year, and the company acknowledged that it's shifted focus to private AI deployments in sectors like healthcare, government, and finance.
As for Ottogrid, it sounds like the existing product will be shut down, while Cohere integrates its technology into North, the company's ChatGPT-style tool for summarizing documents. In a statement, Cohere CEO Aidan Gomez said the company is "bringing enterprises a new way to tackle research with smart tables, helping make employees' day-to-day work more enjoyable and productive."
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