Despite these significant funding rounds, Europe's AI startup scene is still far behind that of the U.S. For instance, U.S.-based OpenAI has raised more funding than all European AI startups combined. However, the recent funding round for Mistral AI could signal a potential increase in investment in European AI startups.
Key takeaways:
- Paris-based Mistral AI recently completed a funding round of approximately $487 million, led by Andreessen Horowitz, valuing the company at $2 billion. This makes it the most heavily funded European generative AI startup.
- Other notable European AI startups include Synthesia, which raised $90 million in a Series C financing, and Stability AI, which raised $101 million last year and an additional $50 million from Intel last month.
- IDVerse, a company that uses generative AI for identity verification and fraud detection, has raised $45 million in Series A and B funding. Other startups, such as Diffblue and Haiper, have also secured significant funding for their AI tools.
- Despite these successes, the total funding for European AI startups is still significantly less than that of their U.S. counterparts. For example, OpenAI in the U.S. has raised more than all European AI startups combined.