Cognition Eyes $300M for Coding Bot Devin at $10B Valuation
Cognition, the AI developer behind Coding Bot Devin, is in talks to raise over $300 million in a new funding round that could value the startup at $10 billion, up from $4 billion in March’s Series C led by 8VC. Founders Fund and Khosla Ventures are expected to join the latest round, reinforcing investor confidence. Coding Bot Devin, an autonomous AI coding tool, executes end-to-end programming tasks—from environment setup to deployment—without human input. On the SWE-Bench benchmark, Devin achieved a 13.86% success rate on solving GitHub issues, dramatically higher than the previous leader’s 1.96%. Despite strong performance on standardized benchmarks, Coding Bot Devin still faces challenges with complex, real-world coding scenarios involving ambiguous requirements.
Neutral
The announcement of a $300 million funding round for Coding Bot Devin primarily affects the AI and tech investment sectors rather than cryptocurrency markets. While large funding deals can signal strong investor appetite for innovative technologies, they seldom translate into immediate market movements for digital assets. In this case, Cognition’s funding boost may drive further development of AI coding tools and attract more capital to tech startups, but it does not directly influence trading volumes, token valuations, or on-chain metrics. Historically, similar funding news—such as xAI’s $10 billion raise—generated limited crypto market response, confirming that AI startup financing events typically have a neutral impact. As a result, traders are unlikely to adjust positions based solely on this development, suggesting a neutral short-term and long-term outlook for cryptocurrencies.