Mistral AI, an up-and-coming French startup in the field of artificial intelligence (AI), has recently closed a significant Series A funding round, adding $415 million to its capital. This event not only highlights the growing interest in generative AI, but it also marks an important milestone in Mistral AI’s ambition to become a European champion with a global vocation in this sector.
Progress and Funding Since its inception in May, Mistral AI has followed a clear path: to establish itself as a European leader in generative AI with an open, responsible, and decentralized approach to technology. With founders from prestigious institutions such as Google DeepMind and Meta, the startup raised $112 million in an initial funding round less than six months ago, setting the stage to compete with giants like OpenAI.
The recent funding round was led by Andreessen Horowitz (a16z), with participation from renowned investors such as Lightspeed Venture Partners, Salesforce, BNP Paribas, CMA-CGM, General Catalyst, Elad Gil, and Conviction. This impressive consortium of investors underscores the confidence in Mistral AI’s potential and its business model.
Innovative Models and Accessibility Mistral AI launched its first model, Mistral 7B, in September. Unlike larger models like GPT-4, Mistral 7B was trained with a relatively small dataset, consisting of approximately 7 billion parameters. In an innovative twist, the company opted to make its model freely accessible, allowing developers to run it on their own devices and servers. This model was released under the Apache 2.0 license, which highlights the company’s commitment to an open and accessible approach to AI.
Contributions to AI Regulation Mistral AI has also played an influential role in discussions surrounding the European Union’s AI Act. The startup has advocated for a complete exemption for fundamental models, arguing that regulation should apply to use cases and to companies that work directly with end-users.
Future Plans and Developer Platform Looking ahead, Mistral AI plans to monetize its AI models and has opened its platform for developers in beta. This will enable other companies to pay for the use of Mistral AI’s models through APIs. Additionally, they have introduced a more advanced model, the Mixtral 8x7B, and a Mistral-medium model available exclusively through their paid platform.
Conclusion The fundraising success of Mistral AI and its innovative approach to creating and distributing generative AI models represent a significant step not only for the company but for the AI ecosystem in Europe and beyond. With a combination of advanced technology, a focus on accessibility, and active participation in AI regulation, Mistral AI positions itself as a key player in the future of artificial intelligence.
