Paris-based startup Mistral AI raised a $113M Seed round to build a large language models application. The pre-product company is valued at $260M post-money. The round was led by Lightspeed Venture Partners, with participation from Redpoint, Index Ventures, Xavier Niel, and JCDecaux Holding, among others. The startup also claims Bpifrance and former Google CEO Eric Schmidt as equity holders. - The company, founded by former DeepMind and Meta alums, is aiming for a product launch in 2024.
- "At the moment we have proof that AI is useful in some cases, but there are still too many workers in different fields being asked to be creative [with AI], and we need to figure this out for them. We want to give them tools that are easy to use to create their own products", said Mistral's co-founder, Arthur Mensch.
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