Mistral AI Raises $3.5 billion At $24 billion Valuation In Another Record European AI Round
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Paris-based generative AI startup Mistral AI said Tuesday that it has nearly doubled its valuation to more than $24 billion with a $3.5 billion Series D fundraise.
Key facts
All told, Europe-based startups raised $24 billion in the quarter, up around a third quarter over quarter and two-thirds higher than the $14.4 billion raised in Q2 2025
Paris-based generative AI startup Mistral AI said Tuesday that it has nearly doubled its valuation to more than $24 billion with a $3.5 billion Series D fundraise
The financing comes nearly one year to the day after Mistral’s $2 billion Series C, which valued the company at $13.7 billion
At the time of Mistral’s $2 billion Series C, that raise represented the largest venture round ever raised by a European AI company
Summary
Samsung Electronics led the round, with participation from co-leads Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity. The financing comes nearly one year to the day after Mistral’s $2 billion Series C, which valued the company at $13.7 billion. Mistral’s new raise means it retains its spot as the most highly valued foundation model company out of Europe. The company says the new capital will “significantly expand Mistral’s frontier research” and help it “expand infrastructure and accelerate” its commercial growth and international footprint.