Mistral AI raises €3 billion in Samsung-led Series D round

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The French AI startup's post-money valuation now exceeds €21 billion, up from €11.7 billion a year ago

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Mistral AI announced Tuesday it raised €3 billion ($3.5 billion) in a Series D funding round led by Samsung Electronics, bringing its post-money valuation to more than €21 billion — the largest equity fundraising round ever completed by a European technology company, the company said.

Samsung led the round alongside co-leads Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity. New investors include Advent, funds and accounts managed by BlackRock $BLK, and the Grand Duchy of Luxembourg. Existing backers including a16z, ASML $ASML, General Catalyst, Lightspeed, NVIDIA, and Salesforce $CRM Ventures also participated.