Mistral AI has closed its much rumored Series B funding round with General Catalyst leading the round.
The company has secured €600 million (around $640 million at today’s exchange rate) in a mix of equity and debt.
As a reminder, Mistral AI is a relatively new entrant in the artificial intelligence space.
It also has distribution partnerships with cloud providers, such as Microsoft Azure — Microsoft is also a minor shareholder in Mistral AI.
According to the Financial Times, Mistral AI raised €468 million in equity and €132 million in debt (around $500 million and $140 million respectively).
Lago, developer of an open-source billing platform, has picked up the funding across two rounds of funding it’s revealing to coincide with its official launch.
The Lago doing business today as a billing platform got its start in a very classical startup way: it had no idea that it would be a billing platform.
There are even a number of providers already pursuing an open-source approach, including FossBilling, ChargeBee, Kill Bill, AppDirect’s jBilling and the imaginatively named “Open Source Billing.” (Why beat around the bush?)
So it’s an it’s still an unsolved problem.” In Lago’s view, offering open source tools is that best solution to meet a variety of needs and ideas.
For some of those users, the open source ethos also lines up with what they are hoping to espouse themselves as businesses.
For a VC firm, the second fund is a make-or-break moment.
First, after raising €225 million for its initial fund ($245 million at today’s exchange rate), Singular managed to raise €400 million for the second fund.
Second, all the investors who participated in the first fund are back as limited partners in the second fund — this is a good signal.
This wasn’t an obvious outcome for the VC firm, as it’s been a wild ride over the past two or three years in venture capital.
Building a big European VC fundUnlike many VC firms based in Paris, Singular has been investing in European startups from day one.
