Paris-based Mistral AI Raises €600 Million in Series B Funding at $6 Billion Valuation

Jun 11, 2024, 04:26 PM

Paris-based AI startup Mistral AI has raised €600 million ($640 million) in a Series B funding round led by General Catalyst. The funding comprises €468 million in equity and €132 million in debt financing, elevating the company's valuation to almost €6 billion ($6 billion). The round saw participation from notable investors including Nvidia, Salesforce, and Lightspeed Venture Partners. Mistral AI, founded by alumni from Meta and Google, has tripled its valuation since December and aims to challenge industry giants like OpenAI and DeepMind with its focus on innovative models and open-source releases.