The French AI startup Mistral AI closed a funding round worth around $415 million as it strives to be the EU’s rival to OpenAI and accelerates the EU AI race.
French artificial intelligence (AI) startup Mistral AI has announced it raised €385 million ($415 million) in its latest funding round to go toward developing its technology and open-source software.
Andreessen Horowitz and the company’s initial backers, Lightspeed Ventures, led the round, which closed on Dec. 11. This follows a previous funding round earlier this summer through which Mistral raised $113 million in seed funding. The company is currently valued at around $2 billion.
Mistral AI focuses on open-source technology for generative AI tools, chatbot development and customizable features. It aims to make its products available to the general public in early 2024.
