1 minute read | December.11.2023
European startup Mistral AI has completed a €385 million funding round “to bolster its team and infrastructure” and “develop the best open technology and provide developers with the highest levels of customization.”
Orrick advised Mistral AI in the Series A round, led by Andreessen-Horowitz.
Mistral AI specializes in generative artificial intelligence. Co-founded this year by Timothée Lacroix, Guillaume Lample, and Arthur Mensch, the company develops models of generative artificial intelligence for businesses, combining scientific excellence and an open approach.
This new fundraising gives the company new capabilities to shape the AI revolution from Europe.
Mistral AI aims to achieve frontier-level AI capacities in the coming months by bringing the best models to the open-source community and building its developer and enterprise-oriented product offering.
"Since the creation of Mistral AI in May, we have been pursuing a clear trajectory: that of creating a European champion with a global vocation in generative artificial intelligence, based on an open, responsible and decentralised approach to technology,” co-founder and CEO Arthur Mensch said in a statement.
“In our six months of existence, we have achieved major successes, notably through the massive adoption of Mistral 7B, our first model, which revealed our company to the general public,” Mensch said.
“The fundraising we are announcing today, along with the launch of our commercial platform and the release of our new Mixtral 8x7B open model, marks another major step in our acceleration."