New Delhi, Sept. 8 -- French artificial intelligence company Mistral AI has raised €3 billion in fresh funding at a post-money valuation of more than €21 billion, giving the three-year-old startup substantially more capital to develop advanced AI models, expand its computing infrastructure and strengthen its position as Europe's homegrown alternative to US technology giants.

The Series D round, which Mistral described as the largest equity fundraising by a European technology company, was led by Samsung Electronics, the EQT-managed Scaleup Europe Fund and existing investor PSG Equity. New investors include Advent, funds and accounts managed by BlackRock and the Grand Duchy of Luxembourg, alongside a long list of existing back...