Mistral raised €3 billion in a Series D round at a valuation above €21 billion. It calls this the largest equity round ever raised by a European technology company. Samsung Electronics led the round, three years after Mistral was founded. Co-leads were the Scaleup Europe Fund, managed by EQT, and existing backer PSG Equity. Advent, funds managed by BlackRock and the Grand Duchy of Luxembourg joined as new investors. Existing shareholders including a16z, ASML, Nvidia and Salesforce Ventures also took part. Mistral says the money will fund research, compute for model training and commercial growth. It says it now works across 20 countries with more than 125 large enterprise customers, among them Airbus, ASML and HSBC. Mistral describes its approach as open-weight models plus its own infrastructure and products.
What changed
Mistral's previous round, a Series C, was led by ASML.
What it unlocks
More compute capacity for training and wider international expansion by Mistral.
- €3B Series D
- €21B+ post-money valuation
- 125+ enterprise customers
- operations in 20 countries
Sources