Mistral AI, a new artificial intelligence (AI) startup, has secured $113 million in seed funding just two months after its establishment. This funding round has resulted in a valuation of $260 million within two months of its inception.
The company was founded in May 2023 by Arthur Mensch, Timothee Lacroix, and Guillaume Lample. Mensch is an ex-researcher at Google DeepMind and Meta; the remaining two co-founders previously held positions at Facebook AI, with Lacroix serving as a research engineer and Laple as a research scientist.
Mistral AI aims to address a major challenge in the industry: making AI practical. The company is directing its attention toward open-source solutions and plans to debut its initial text-based generative AI models in 2024.
Arthur Mensch, Mistral AI’s CEO, and co-founder, expressed gratitude for the first funding round, emphasizing its significance in providing the necessary resources and network to implement a novel generative artificial intelligence model.
The funding round was led by Lightspeed Venture Partners, with the participation of notable investors such as Xavier Niel, JCDecaux Holding, Rodolphe Saadé, Motier Ventures in France, La Famiglia and Headline in Germany, Exor Ventures in Italy, and Sofina in Belgium. UK-based First Minute Capital and LocalGlobe were also part of the funding round.
Mistral AI, the company, is also actively expanding its workforce and seeking talented professionals in the fields of AI research, software engineering, and product development.
In another development, Sam Altman, CEO of OpenAI, recently concluded his visit to Tokyo with an optimistic outlook on global collaboration in addressing AI risks. Altman emphasized the importance of international cooperation in dealing with potential existential threats associated with AI. He highlighted the history of successful collaboration between humans and machines in the AI field, leading to remarkable advancements in the industry.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with Markets PRO, DeFi Planet’s suite of analytics tools.”
