AI Gold Rush Begins

The VCs are restless and there is no stopping them. This week, Mistral AI, a young startup based in Paris, secured an astounding $113 million in seed funding led by Lightspeed Ventures — this, despite it being only a month old and lacking a substantial product or team.

This funding also surpassed the previous record set by Stability AI, which raised $101 million in its seed round. Other notable AI startups like Anthropic and Cohere raised $124 million and $40 million in series A.

“I’m 30 and have raised $100 Mn+ for startups I’ve founded,” said Steph Mui, the founder and CEO of PIN, a community-based startup investing platform. But how? Mui said you just need a $250K angel round to get started, and four weeks later you can pivot to AI and raise a $100 million seed round.