Mistral said the funding would be used to ‘significantly expand’ its frontier research.
French AI start-up Mistral has raised €3bn in Series D funding at a post-money valuation of more than €21bn.
The round, which the company said is “the largest equity fundraising round ever completed by a European technology company”, was led by Samsung Electronics with participation from the EU’s Scaleup Europe Fund and PSG Equity, among others.
Mistral said the funding would be used to “significantly expand [its] frontier research” – which it described as “the foundation underpinning its infrastructure, products and sovereignty” – as well as scaling its compute capacity for training AI models, expanding its infrastructure, and growing commercially and internationally.
In its funding announcement, the Paris-based company, founded in 2023, said it is focused on more than simply creating ever-more powerful AI models, and that the new central challenge for organisations and governments is in “how to harness the power of AI for their mission-critical needs without surrendering control over the infrastructure and intelligence loop”.
