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A new artificial intelligence (AI) startup, Mistral AI, raised $113 million in seed funding. The AI project is designed to compete favorably against OpenAI, ChatGPT creator, and other similar projects.
Mistral AI is co-founded by former AI researchers for Meta and Google DeepMind. The researchers launched the AI startup in May 2023 and are still working on the project.
According to its design setting, Mistral Ai is an artificial intelligence platform that allows users to create open-source generative AI models.
Importance Of Mistral AI Seed Funding
In a statement, one of the founders of Mistral AI and the firm’s CEO, Arthur Mensch, spoke about the importance of the funding round.
Mensch stated that the first funding would provide the company with the assets and platform necessary to kick off the creation of a new model of artificial intelligence.
The CEO appreciated his co-founders, Guillaume Lample and Timothee Lacroix, for their efforts in developing the AI project over the past two months.
Mensch mentioned that the new startup is designed with a combination of an open-source approach and scientific excellence. Also, the researchers depended on a socially responsive vision of innovative technology to anchor their development.
Before he engaged with Mistral AI, Mensch worked as a research scientist at Google DeepMind. The other co-founders, Lample and Lacroix, worked at Meta (formerly Facebook) as a research scientist and research engineer, respectively.
Lightspeed Venture Partners pioneered the funding round for Mistral AI. Other participants in the round include Rodolphe Saade, JCDecaux, Motier Ventures, and others.
Notably, the fund in the first round sparked up the project’s valuation to a staggering $260 million within two months of its launch.
The three founders plan to operate the AI firm from Paris and facilitate the subsequent release of the company’s first set of models for text-based generative AI in 2024.
The CEO further noted that the AI project is a credible new player in the area of generative artificial intelligence in Europe as a whole. So, the founders pledge to commit more passion to honoring the confidence of their investors in the artificial intelligence sector.
Mistral AI Throws An Open Door For Recruitment
Mistral AI aims to boost its operations, given the importance of AI in today’s industries. The firm has thrown its door open as it recruits staff to facilitate its operations.
The project is currently hiring artificial intelligence researchers, product developers, software engineers, and other positions. But as of now, the artificial intelligence project is yet to have a social media platform to solidify its presence. Also, its official website is still not finished.
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