AI coding assistant startup CognitionAI is in talks for a major funding round at a valuation of $25 billion, Bloomberg News reported on April 24, citing sources familiar with the matter.

The specific fundraising target has not been disclosed, but CognitionAI is aiming to raise at least several hundred million dollars.

The discussions are still ongoing, so terms may change. CognitionAI introduced Devin, an AI coding agent billed as a "fully autonomous AI software engineer," in March 2024.

Devin autonomously handles complex engineering tasks from writing code to debugging and deployment. It generates step-by-step plans before executing tasks and provides confidence scores indicating the likelihood that code can be used. It also runs multiple tests to check generated code for various bugs and vulnerabilities.

Devin is offered in a basic version for individual developers and an enterprise version for companies. The enterprise version can be customised with a company's own data and provides additional security features and audit logs. Dell Technologies and Cisco are using the Devin enterprise version.

CognitionAI raised $400 million in September last year in a round led by Founders Fund, valuing the company at $10.2 billion.