en.Wedoany.com Reported - European artificial intelligence startup Mistral has completed a new funding round, valuing the company at approximately €20 billion (about $23.15 billion), nearly double its €11.7 billion valuation during the Series C round in September last year.

Founded in 2023, Mistral is one of Europe's leading AI startups, with a stated goal of putting cutting-edge AI into everyone's hands. Compared to its U.S. competitors, the company adopts a more open approach to AI development, offering partially open-weight foundational large language models that allow users to customize them according to their needs.

The company also provides closed models for use cases such as coding, voice cloning and generation, and optical character recognition.

Recently, as European countries distance themselves from U.S. technology, Mistral has positioned itself as a friendlier, autonomous, and localized alternative. The company is building a data center near Paris and has established partnerships with the French military, the Luxembourg government, and several major European enterprises.

According to PitchBook data, Mistral has raised only about $4 billion to date, far less than its U.S. competitors OpenAI ($186 billion) and Anthropic ($161.25 billion). These labs also have significantly higher valuations than Mistral, reflecting their greater lead in revenue, model adoption, and enterprise demand.

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