HISTORICAL P100 / #28

Mistral AI

Artificial Intelligence · France

Historical ranking valuation$14.0BSource snapshot: Jun 19, 2026

Disclosed primary funding in this record

Not established

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

0 confirmed primary rounds with disclosed USD amounts · Record through 2026-11-01

THE BUSINESS

Get to know Mistral AI.

Mistral AI develops AI models and tools for building and operating AI applications. Its Studio platform supports model access, agents, workflows, connectors and governance for developer and enterprise deployments.

Mistral Studio product overview ↗Source checked Sep 24, 2026

Valuation history

Valuations reported at the time of each round.

Sep 8, 2026>€21B post-moneySeries D · ConfirmedSource ↗

Sep 9, 2025€11.7B post-moneySeries C · ConfirmedSource ↗

Jun 11, 2024€5.8B post-moneySeries B · ConfirmedSource ↗

Dec 11, 2023€2B post-moneySeries A · ConfirmedSource ↗

Funding history

Funding rounds, debt and other financing events.

10sourced events · record as of 2026-11-01

Mistral confirms one September 2026 €3B Series D led by Samsung; FundBat's June $750M ASML-led Series D is excluded as uncorroborated. June 2024 Series B includes a reported €132M debt component, not additive to the package. The March 2026 $830M facility is debt, not equity. Samsung SDS's disclosed stake book value is not a $5.36M issuer raise. Microsoft's €15M bond subscription sits within a €120M bond raise. No invented euro-to-dollar conversion or complete financing register is claimed. Headline association; not a reviewed issuer link. Unlinked article observations are not independently reconciled financing events. This is covered public-source history, not an exhaustive issuer ledger.

Sep 8, 2026LATEST SOURCED

primary

Series D

Samsung Electronics (lead) · Scaleup Europe Fund (EQT) (lead) · PSG Equity (lead) · Advent · BlackRock-managed funds and accounts · Grand Duchy of Luxembourg · a16z · ASML · +15 more

Mistral says it has raised €3B; the source does not provide an exact USD equivalent or individual investor allocations.

Amount€3BValuation>€21B post-money

Sep 8, 202609

other

Mistral confirms €3B for its enterprise AI business

Investors undisclosed

Amount$3.5BValuationUndisclosed

Mar 30, 202608

debt

Debt Financing

Bpifrance · BNP Paribas · Crédit Agricole CIB · HSBC · La Banque Postale · MUFG · Natixis

Lender counsel confirms an approximately $830M limited-recourse GPU financing; borrower counsel describes $720M and €94M tranches. Facility size is not confirmed drawn cash or equity proceeds.

Amount$830M approximately (limited-recourse facility)ValuationNot publicly disclosed

Sep 9, 202507

primary

Series C

ASML Holding (lead) · DST Global · Andreessen Horowitz · Bpifrance · General Catalyst · Index Ventures · Lightspeed · NVIDIA

Amount€1.7BValuation€11.7B post-money

Jun 11, 202406

other

Series B

General Catalyst (lead) · DST Global (lead) · Andreessen Horowitz

Investor describes €600M; investor counsel describes €595M. Public reporting divides the package into equity and debt, but the exact split is not independently established by these participant announcements.

Amount€600M mixed financing packageValuation€5.8B post-money

Jun 202405

debt

Debt Financing

Investors undisclosed

Included in 2024 Series B package; not added again to the confirmed-raised sum.

Financial Times-reported debt component of the €600M mixed Series B package, relayed by TechCrunch. Not additive to the package; exact split not verified from a transaction participant.

Amount€132MValuationNot publicly disclosed

Feb 202404

debt

Convertible bond raise

Microsoft · NVIDIA

CMA describes Microsoft's €15M convertible-bond subscription as part of a €120M bond raise; it was not an extra €15M equity Series A extension. Bond conversion status is not established here.

Amount€120M total (€15M Microsoft subset)ValuationUndisclosed

202403

other

Samsung SDS strategic shareholding (timing unresolved)

Investors undisclosed

Samsung SDS reports a Mistral shareholding by December 2024 and a stake book value, not issuer proceeds. Exact investment date, paid consideration and primary-versus-secondary route are not established by this filing.

AmountInvestment proceeds undisclosedValuationNot publicly disclosed

Dec 11, 202302

primary

Series A

Andreessen Horowitz (lead) · General Catalyst

Amount€385MValuation€2B post-money

Jun 13, 202301

primary

Seed

Lightspeed Venture Partners (lead)

Amountover €105MValuationUndisclosed

Financing participants

Investors, lenders and other parties named in funding announcements.

Samsung Electronics

Series D · Sep 8, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗

Scaleup Europe Fund (EQT)

Series D · Sep 8, 2026 · Lead participant · primary · Confirmed · Confirmed source ↗