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Robinhood Ventures invests $10 million in AI coding startup Cognition

Robinhood Ventures invests $10 million in AI coding startup Cognition

Robinhood Ventures Fund I’s $10 million stake came in a $2 billion-plus Series E that valued the Devin maker at $48 billion.

by Diego Almada Lopez

1 min read

In Technology

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Robinhood Ventures has invested $10 million in Cognition, the startup behind the AI coding agent Devin, Fortune reported. The stake was part of Cognition’s September Series E, which raised more than $2 billion at a $48 billion valuation. Andreessen Horowitz, Accel and Founders Fund are among Cognition’s other backers.

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The investment is held by Robinhood Ventures Fund I, a publicly traded closed-end fund that began trading in March 2026 and also holds Databricks, Revolut and ElevenLabs. The fund’s net asset value rose about 17% in the quarter ended Sept. 30, its largest quarterly gain so far. It invested $75 million in OpenAI in April.

Coding agents draw retail-accessible capital

Cognition said its annualized revenue run rate reached almost $900 million in September, up from $492 million in May. It competes with OpenAI’s Codex, Anthropic’s Claude Code and GitHub Copilot. “It’s not a winner-take-all market,” said Sarah Pinto, head of Robinhood Ventures.

Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.

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