Robinhood Ventures Fund I Announces Approximately $10 Million Investment in AI Coding Company Cognition

BlockBeats news, October 23 - Robinhood Ventures Fund I announced today that it has completed an investment in Cognition, with a total investment of approximately $10 million.

Cognition, founded in 2024, has developed Devin, the first autonomous software engineer. Devin is capable of independently handling project planning, code writing, testing, and production environment deployment. By delegating repetitive engineering tasks to AI agents, engineers can focus more on architecture design, system planning, and complex problem-solving.

Currently, Devin has been deployed at some of the world's largest and most complex institutions, including Goldman Sachs, Citigroup, Wayfair, Mercedes-Benz, and Nubank. Recently, on an annualized basis at current revenue levels, Cognition's revenue has exceeded $1 billion.