Paris-based Mistral AI, a platform specializing in generative artificial intelligence, announced that it has secured over €105M in a seed-stage round of funding.
According to Tech Crunch, the startup is currently valued at €240M.
The round was led by Lightspeed Venture Partners.
Founded by key figures from the AI research teams at Meta and Alphabet, Mistral AI will give companies the fundamental tools to automate current operations and create new products using “state-of-the-art” large language models.
Co-founder and CEO of Mistral, Arthur Mensch, met Guillaume Lample and Timothée Lacroix, the other two co-founders, as students at École Polytechnique and École Normale Supérieure.
The trio wanted to establish an open-source European initiative with the potential to dominate the field of generative artificial intelligence globally.
Mistral AI aims to become a credible open-source alternative to some of the pioneers of the Large Language Model while giving back to the community.
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