Four-week-old French Technology and AI company, Mistral AI, Secures $113.4 Million Funding 

A French technology and artificial intelligence company Mistral AI, has announced securing 105 million euros ($113.4 million) in funding few weeks after it launched. 

Arthur Mensch, the startup’s president, disclosed the development in a statement on Tuesday. 

The Paris-based startup was cofounded by former Meta and Google artificial intelligence researchers Timothee Lacroix, Guillaume Lample and Arthur Mensch.

Mistral AI’s fund-raising was led by international venture capital fund Lightspeed Venture Partners with participation from Xavier Niel and Rodolphe Saade, JCDecaux Holding, Exor Ventures and Belgian firm Sofina.

Former Google CEO Eric Schmidt is also a shareholder in Mistral AI.

As a global technology powerhouse, Paris has historically lagged behind New York, California, and London.

However, the four-year-old’s fund-raising efforts were praised by French government minister Jean-Noel Barrot as Paris seeks to improve its reputation.

Barrot posted on Twitter, “Bravo to the start-up Mistral AI which has raised 105 million euros just a month after its creation: a record!”

We are proud to initiate this global project from France, our home country, and to contribute, at our level, to the emergence of a credible new player in generative artificial intelligence from Europe,” Mensch said.