Mistral AI is a France-based company that provides businesses with the technology to automate existing processes and develop innovative new products with state-of-the-art large language models. The company has raised $113 million in seed funding at about a $260 million valuation, according to TechCrunch.
Lightspeed Venture Partners led the funding round. Redpoint, Index Ventures, French billionaire Xavier Niel, French ad giant JCDecaux Holding, Rodolphe Saadé, Motier Ventures, La Famiglia, Headline, Exor Ventures, Sofina, First Minute Capital, and LocalGlobe also joined the round. French investment bank company Bpifrance and former Google CEO Eric Schmidt are also investors in the company.
Mistral AI was co-founded by chief executive Arthur Mensch, chief technology officer Timothée Lacroix, and chief science officer Guillaume Lample.
KEY QUOTE:
“Our training as AI researchers, combined with our respective professional experiences within the world’s leading technology companies, have convinced us that there is a way forward for an alternative, innovative project that will enable us to responsibly disseminate the most promising technology of our generation as widely as possible. We are proud to initiate this global project from France, our home country, and to contribute, at our level, to the emergence of a credible new player in generative artificial intelligence from Europe. Over the coming months, we will be focusing all our energy and passion on honoring the trust placed in us by our investors.”
– Arthur Mensch
