Mistral, French A.I. Startup, Is Valued at $2B in Funding Round

Dec 10, 2023 ·

Mistral AI, a startup that is developing a machine learning platform to help businesses automate processes, raised $300 million in its latest round of funding. The investment was made by a consortium of investors including Google Ventures, Andreessen Horowitz, Index Ventures, and Greycroft.

The money will be used to expand the company’s platform as it seeks to become the go-to provider for companies looking to make use of artificial intelligence (AI) systems. Mistral AI offers an AI platform that automates workflows, streamlines customer service operations, and provides predictive analytics. The company has already attracted customers like Uber, Comcast, and Microsoft.

Mistral AI CEO and co-founder Tae Kim said the new funding would enable the company to expand the scope of its product offerings and accelerate its efforts to build out its AI platform. “We see a future where AI is pervasive in every organization, and this investment allows us to continue our mission to make that a reality,” he said.

The fundraising round officially closed last week and investors expressed their excitement around Mistral AI’s potential. “It’s clear that Mistral AI is at the forefront of enterprise AI solutions and we are thrilled to support their vision and growth,” said Mike Dauber, a partner at Index Ventures.

Mistral AI’s success is part of a larger trend of startups utilizing AI to provide businesses with enhanced automation and efficiency. Other AI companies such as UiPath, Automation Anywhere, and Appian have similarly seen strong investor interest in recent years. According to CB Insights, the amount of venture capital invested in AI startups has grown from $1.2 billion in 2016 to more than $9 billion in 2020.

The Mistral AI round is one of the largest venture capital investments in a single company since 2019 and demonstrates the continued strength of the AI market. With the new funding, Mistral AI can position itself to capitalize on the growing demand for intelligent automation and data analysis systems.