Paris based AI startup Mistral announced their largest equity fundraising of €3 billion in a Series D funding on Tuesday putting the company at a post-money valuation of more than €21 billion.
According to Mistral AI, the Series D funding round was led by Samsung Electronics and joined by co-leads Scaleup Europe Fund, managed by EQT, and existing investor PSG Equity. New investors in the round included Advent, BlackRock-managed funds and Luxembourg, while existing backers such as NVIDIA, ASML, Andreessen Horowitz (a16z) and Salesforce Ventures also participated. The funding round nearly doubled the company’s €11.7 billion valuation from the ASML-led Series C a year earlier.
Today marks a major step for Mistral: we’re announcing a €3B Series D, the largest equity round ever raised by a European tech company, just three years after launch. pic.twitter.com/5AexUxyrZM
— Mistral AI (@MistralAI) September 8, 2026
“The round reflects a strategic endorsement from investors across Europe, Asia and North America. It will significantly expand Mistral’s frontier research, which is the foundation underpinning its infrastructure, products and sovereignty. While allowing Mistral to scale its compute capacity for training powerful models, it will help Mistral expand infrastructure and accelerate its commercial growth and international footprint,” read a statement by Mistral AI.
Mistral builds efficient open-weight large language models and a full product stack, including Mixtral-style mixture-of-experts models, Mistral Large, reasoning models such as Magistral, coding tools, multimodal systems, the Vibe assistant, Studio for agents, Forge for custom training, and its own AI Cloud.
Launched in April 2023 by Arthur Mensch (CEO, formerly of Google DeepMind), Guillaume Lample (chief scientist, ex-Meta), and Timothée Lacroix (CTO, ex-Meta), Mistral now operates across 20 countries and supports 125+ global enterprises’ mission-critical AI transformation, including Airbus, ASML, and HSBC.
“Mistral’s full-stack and open approach also allows organizations to build on it without exposing their most valuable data, workflows and institutional knowledge to anyone outside their own walls. That’s what makes Mistral’s stack the sovereign AI layer, meaning retaining control across four dimensions,” read the statement.
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