French AI startup Mistral AI, founded by former Google's DeepMind

 

French AI startup Mistral AI, founded by former Google's DeepMind and Meta researchers, has raised a record €105M ($113M) in seed funding, making it the largest-ever seed round in Europe.  While only four weeks old, Mistral AI is competing with OpenAI in the development of large language models and generative AI. Mistral AI, headquartered in Paris, was founded by former Meta researchers Timothée Lacroix and Guillaume LampleLample and former Google DeepMind researcher Arthur Mensch. The company is focused on open-source models and datasets and aims to cater to enterprise customers. While it has yet to launch its first product, the startup plans to release its first text-based generative AI models in early 2024. The funding round, led by Lightspeed Venture Partners, values the company at €240M ($260M). Its funding round marks a significant milestone in Europe's AI investment landscape, with over $4B invested in AI-related companies in the region this year.