French AI company Mistral raised €3 billion in Series D funding at a post-money valuation of more than €21 billion, three years after its launch. Samsung Electronics led the round, with the Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity as co-leads.
New investors Advent, funds and accounts managed by BlackRock and the Grand Duchy of Luxembourg also joined the round. Existing investors a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, NVIDIA, Phoenix Court's Solar fund and Salesforce Ventures also participated.
Founded in 2023, Mistral develops AI models, infrastructure and products for businesses and public-sector organisations. Its approach combines open-weight models with the infrastructure and computing capacity used to run them, alongside products for deploying the technology in production environments.
The company is positioning its technology around growing demand from organisations seeking greater control over how AI systems are deployed, including where data is stored, how models are customised and which infrastructure is used.
Its platform is designed to allow customers to operate AI systems without relying on a single technology provider and to keep sensitive data and workflows within their own environments.
Mistral currently operates across 20 countries and says it supports more than 125 enterprises with their AI deployments, including Airbus, ASML and HSBC.
The Series D follows Mistral's Series C, which was led by Dutch semiconductor equipment manufacturer ASML. With Samsung Electronics leading the latest round, the company has now secured successive investments led by two major technology and industrial groups.
The new funding will be used to expand Mistral's AI research and computing capacity, develop its infrastructure and products, and support further commercial and international expansion.
Would you like to write the first comment?
Login to post comments