Robinhood Ventures Fund I invests $10 million in Cognition

Robinhood Ventures Fund I has invested approximately $10 million in Cognition, an artificial intelligence software company. Cognition is the developer of Devin, an autonomous software engineering platform designed to plan, write, test, and deploy production code. The company aims to automate repetitive development tasks, allowing engineers to focus on architecture and complex technical problems.

Cognition has recently surpassed a $1 billion annualized revenue run rate. Its technology has been deployed at various organizations, including Goldman Sachs, Citi, Wayfair, Mercedes-Benz, and Nubank. The investment by Robinhood Ventures Fund I, which trades on the New York Stock Exchange under the ticker RVI, is part of a strategy to provide public-market investors with exposure to private technology companies without requiring accredited investor qualifications.