Samsung Electronics led the round as the French AI company pushes further into sovereign AI, computing infrastructure and global expansion.
French AI company Mistral has raised €3 billion in Series D funding at a post-money valuation of more than €21 billion, three years after its launch. Samsung Electronics led the round, with the Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity serving as co-leads.
New investors Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg also joined the round. Existing investors a16z, ASML, Belfius, BNP Paribas CIB, Bpifrance, Carmignac, DST Global, Eurazeo, General Catalyst, Headline, Hillspire, Index Ventures, Korelya Capital, Lightspeed, Nvidia, Phoenix Court’s Solar fund and Salesforce Ventures also participated.
Founded in 2023, Mistral develops AI models, infrastructure and products for businesses and public-sector organizations. Its approach combines open-weight models with the infrastructure and computing capacity needed to run them, along with products for deploying the technology in production environments.
The company is positioning its technology around growing demand from organizations seeking greater control over how AI systems are deployed, including where data is stored, how models are customized and which infrastructure is used.
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Its platform is designed to let customers operate AI systems without relying on a single technology provider, and to keep sensitive data and workflows within their own environments.
Mistral says it operates across 20 countries and supports more than 125 enterprises with their AI deployments, including Airbus, ASML and HSBC.
The Series D follows Mistral’s Series C, which was led by Dutch semiconductor equipment manufacturer ASML. With Samsung Electronics leading the latest round, the company has now secured successive investments led by two major technology and industrial groups.
The company said the new funding will be used to expand its AI research and computing capacity, develop its infrastructure and products, and support further commercial and international expansion.
