Mistral AI, the French generative AI startup, has officially confirmed its successful Series A funding round, raising €385 million ($414m). While the company did not disclose its valuation, recent rumors suggested a potential valuation of $2 billion. This funding round comes just seven months after Mistral AI’s impressive €105 million Seed round.
Andreessen-Horowitz led the €385 million Series A round, with participation from LightSpeed Ventures, Salesforce, and Motier Ventures, the family office of the owners of the Galeries Lafayette Group based in Paris.
In conjunction with this funding confirmation, Mistral AI unveiled its latest language model, Mixtral 8x7B, which the company claims “sets a new bar for efficiency and performance.” Simultaneously, Mistral AI has opened beta access to its first platform services.
These platform services, available in three varieties—tiny, small, and medium—grant developers access to Mistral AI’s generative text models, each offering a different performance-to-price ratio. The startup plans to increase capacity gradually and is currently accepting registrations for beta access.
Mistral AI initially garnered attention with a substantial €105 million Seed round, and this Series A funding of €385 million further cements the company’s position as a significant player in the generative AI space.
