Generative AI startup Mistral AI raises 105 million euros in seed-stage funding

(Image: Lightspeed Venture Partners)

French Generative AI startup, Mistral AI, have announced a successful seed-stage financing round of 105 million euros, led by venture capital fund firm, Lightspeed Venture Partners.

Businessmen Xavier Niel and Rodolphe Saade, JCDecaux Holding, Exor Ventures, Belgian firm Sofina, and former Google CEO, Eric Schmidt, were also part of the shareholders.

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Founded by ex-Meta and Google AI researchers, Guillaume Lample, Arthur Mensch and Timothee Lacriox, Mistral AI strives to provide companies with technology that will help with automation, and develop new products using Large Language Models.

Mistral AI has ambitions to become a leading player in Generative AI technology. According to a medium post by Lightspeed Venture Partners, the trio of founders, "combine deep technical expertise and operating experience working in the largest labs."

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Europe is already focused on becoming a major player in the AI industry. The region is at the forefront of AI regulation and is already working on a comprehensive rulebook and guidelines for Artificial Intelligence.