Mistral AI Reportedly Raising €3 Billion Round at €20 Billion Valuation
French AI firm Mistral AI is reportedly seeking to raise approximately €3 billion in a Series D funding round, valuing the company at around €20 billion. The EU's €5bn Scaleup Fund is in talks to lead or co-lead the round.
French artificial intelligence company Mistral AI is reportedly in advanced discussions to secure a substantial €3 billion Series D funding round. This latest round could value the startup at approximately €20 billion, according to sources familiar with the matter. The EU's €5bn Scaleup Fund, managed by EQT, is reportedly in talks to lead or co-lead this significant investment.
This potential funding round follows Mistral's previous Series C raise in December, where it secured $2 billion (approximately €1.8 billion) from investors including Andreessen Horowitz, Lightspeed Venture Partners, and General Catalyst. Mistral has rapidly emerged as a prominent European AI firm, focusing on developing advanced large language models.
The company's strategic positioning is also drawing attention, with observers noting an increasing resemblance to Palantir. Mistral appears to be shifting towards a business model that emphasizes enterprise solutions and data management capabilities. This repositioning is expected to influence the valuation and market strategy in its upcoming funding round.
The substantial fundraising efforts and strategic shifts underscore Mistral's ambition and the growing European focus on developing competitive AI technologies. The potential involvement of the EU Scaleup Fund highlights efforts to bolster European tech champions on the global stage.