Mistral valued at €21bn after €3bn Series D funding round
Mistral said the funding would be used to 'significantly expand' its frontier research. Read more: Mistral valued at €21bn after €3bn Series D funding round
Mistral, a French AI start-up, has raised €3bn in Series D funding, bringing its post-money valuation to over €21bn. The largest equity fundraising round in Europe, led by Samsung Electronics, was also supported by the EU's Scaleup Europe Fund and PSG Equity. The investment aims to bolster Mistral's frontier research, expand its compute capacity, and grow commercially and internationally.
Mistral, founded in 2023, focuses on open-weight models, infrastructure, compute capacity, and products, describing its stack as a "sovereign AI layer" that provides ringfenced customer data, adaptable models, and controllable AI systems. The company currently operates in 20 countries and collaborates with over 125 global enterprises, including Airbus, ASML, and HSBC.
Mistral's valuation significantly lags behind US counterparts, Anthropic and OpenAI, valued at nearly $1 trillion each.
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