Funding round
Cogna Seed
Cogna, which works in AI-Driven business solutions development in Aberdeen, raised $4.8M in a Seed round announced on 7 Mar 2024, led by Hoxton Ventures. 3 firms took part. It is Cogna's first venture round on record.
$4.8M
Amount raised
3,760,000 GBP converted
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Cogna did not disclose a valuation in this round. It is Cogna's first venture round on record, 1 year after it was founded in 2023. It is 24% of the $20M Cogna has raised in the venture rounds on record. Cogna raised again 8 months later: a Series A round of $15M in Nov 2024.
Cogna's funding rounds
Cogna has 2 venture rounds on record. This one is highlighted.
- Seed this round 7 Mar 2024, led by Hoxton Ventures $4.8M
- Series A 11 Nov 2024, led by Notion Capital $15M
Investors
Who put money in
Hoxton Ventures led the round with 2 other firms.
Lead investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Also in the round
- backs 64 venture-backed companies new investor
- backs 164 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
260 Seed rounds in Software Development Services within a year either side disclosed an amount; the median was $3.6M, and this round was 1.3 times the median. The closest in time, other companies' Seed rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 25 Mar 2024 | $6.7M | not disclosed | Costanoa |
| Software Development Services | 22 Mar 2024 | $4.5M | not disclosed | not named |
| Software Development Services | 7 Mar 2024 | $3.6M | not disclosed | Volt Capital |
| Software Development Services | 6 Mar 2024 | $3.0M | not disclosed | Unlock Venture Partners |
| Software Development Services | 14 Mar 2024 | $2.7M | not disclosed | Galileo Ventures |
| Software Development Services | 13 Mar 2024 | $2.6M | not disclosed | Potter Ventures and River Capital |
| Software Development Services | 19 Mar 2024 | $2.5M | not disclosed | DGF |
| Software Development Services | 22 Mar 2024 | $2.3M | not disclosed | not named |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Cogna raise in its Seed round?
Cogna raised $4.8M in its Seed round, announced in Mar 2024.
Who led Cogna's Seed round?
Hoxton Ventures led it, with Notion Capital and Octopus Ventures.
What was Cogna's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Software Development Services?
260 Seed rounds in Software Development Services within a year either side disclosed an amount; the median was $3.6M, and this round was 1.3 times the median.
Did Cogna raise again after this round?
Yes: a Series A round in Nov 2024 of $15M.