Paris-based AI startup Mistral AI raises $640 million
Who led the Series B funding round for Mistral AI, and what is the startup's valuation following this round?
General Catalyst led the Series B funding round for Mistral AI, in which the startup raised €600 million (around $640 million at today's exchange rate) in a mix of equity and debt1. Following this funding round, Mistral AI is now valued at $6 billion.
What is the total amount raised by Mistral AI in its Series B funding round, and how was this funding distributed between equity and debt?
Mistral AI raised a total of €600 million (around $640 million at today's exchange rate) in its Series B funding round. This funding was a mix of equity and debt, with €468 million raised in equity and €132 million in debt. General Catalyst led the round, and the startup is now valued at $6 billion following this funding round.
What are some of the foundational AI models that Mistral AI is working on to compete with other AI giants?
Mistral AI is working on foundational AI models to compete with other AI giants, such as OpenAI's GPT-4o, Anthropic's Claude 3, and Meta's Llama 3. Some of the models they have released under an open-source license with open weights include Mistral 7B, Mistral 8x7B, and Mistral 8x22B, which were released under the Apache 2.0 license. Mistral AI's most advanced models, such as Mistral Large, are proprietary models designed to be repackaged as API-first products. Additionally, they have developed Codestral, the company's first generative AI model for code, which has a restrictive license since its outputs can't be used for commercial activities.