Mistral AI, founded by Timothée Lacroix, Guillaume Lample, and Arthur Mensch in mid-2023, triples its valuation to nearly €6 billion with latest investment round led by General Catalyst and supported by industry giants like OpenAI.
Mistral AI, a Paris-based artificial intelligence start-up, has secured €600 million in new funding, bringing its valuation to nearly €6 billion. Founded in mid-2023 by AI researchers Timothée Lacroix, Guillaume Lample, and Arthur Mensch, the company has quickly emerged as a competitor to industry giants like OpenAI. The latest funding round, which triples the company’s valuation since December, was led by General Catalyst and included investments from Lightspeed, Andreessen Horowitz, Bpifrance, BNP Paribas, and corporate backers like Nvidia, Salesforce, Samsung, and IBM.
Mistral’s unique approach to AI, featuring open-source software options, has attracted significant interest, with its products being made available through platforms like Microsoft Azure. The French start-up has about 60 employees, primarily in Europe, and aims to expand its operations and computing capabilities with the new capital. The funding comprises €468 million in equity and €132 million in debt, and will fuel Mistral’s growth from a European start-up to a global contender.
