Mistral Secures €3 Bn Funding Led by Samsung at Over €21 Bn Valuation

French AI company Mistral AI has raised €3 billion ($3.5 billion) in a Series D funding round at a post-money valuation of more than €21 billion ($24 billion), three years after its launch. The company said the round is the largest equity fundraising by a European technology company.

Samsung Electronics led the round, with Scaleup Europe Fund, managed by EQT Group, and existing investor PSG Equity joining as co-leads.

Mistral said the funding will expand its frontier AI research, increase compute capacity for training models, scale infrastructure, and support its commercial growth and international expansion.

The company currently operates across 20 countries and supports more than 125 global enterprises, including Airbus, ASML, and HSBC.

Mistral said its focus is on building AI systems that give enterprises and governments control over their data, models, compute and production environments.

“Organisations and governments are now asking a different one: how to harness the power of AI for their mission-critical needs without surrendering control over the infrastructure and intelligence loop,” the company said.

Mistral describes its approach as a full-stack AI platform built around open-weight models, infrastructure, compute capacity and products for deploying AI in production. It said this model is designed to prevent customers from being tied to a single vendor’s roadmap, pricing or availability.

The company also said its open approach lets organisations deploy AI while keeping sensitive data, workflows and institutional knowledge within their own environments.

According to Mistral, its sovereign AI approach focuses on four areas: keeping data within organisational boundaries, allowing models to be controlled and customised, providing private and predictable compute, and making production systems controllable and auditable.

The funding brings together investors from Europe, Asia and North America. Advent, funds and accounts managed by BlackRock, and the Grand Duchy of Luxembourg joined the round as new investors.

Existing investors including 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.

The round follows Mistral’s Series C, which was led by ASML. With Samsung Electronics leading its Series D, Mistral has now secured backing from technology and industrial companies across multiple markets as it expands its open-weight AI strategy.