Mistral AI raises $113.4 million in VC funding

Mistral AI, a French technology and artificial intelligence company, has successfully secured 105 million euros ($113.4 million) in funding just one month after its establishment.
VC funding for tech
The company, headquartered in Paris, was founded by former artificial intelligence researchers Timothee Lacroix, Guillaume Lample, and Arthur Mensch, who previously worked at Meta and Google.

Mensch, the president of Mistral AI, expressed pride in launching this global endeavor from their home country and emphasized the company’s contribution to the emergence of a credible European player in generative artificial intelligence.

The funding round was led by Lightspeed Venture Partners, an international venture capital fund. Notable figures such as Xavier Niel, Rodolphe Saade, JCDecaux Holding, Exor Ventures from Italy, and Belgian firm Sofina also participated. Additionally, Mistral AI counts former Google CEO Eric Schmidt among its shareholders.

The French government minister, Jean-Noel Barrot, praised Mistral AI’s achievement in raising 105 million euros within such a short time since its inception. This accomplishment aligns with Paris’s aspiration to bolster its reputation as a prominent global technology hub.

Barrot celebrated Mistral AI’s fundraising milestone on Twitter, stating, “Congratulations to the start-up Mistral AI, which has raised 105 million euros just a month after its creation—a record-breaking achievement!”

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