A French artificial intelligence company is close to finalizing an enormous round of funding that would value it at $6 billion. Sources indicate Mistral AI, a leading developer of natural language processing technologies, is poised to complete an agreement that attracts hundreds of millions from its established backers.

The startup has gained prominence for its work building AI systems capable of understanding and generating human speech. If completed as anticipated, the investment would provide approximately $600 million in new capital while establishing Mistral as one of the most valuable European tech firms of its kind.

General Catalyst and Lightspeed Venture Partners, early investors known for successfully supporting disruptive tech ventures, are set to lead the fundraising as repeat supporters. Their continued belief in Mistral’s potential reflects the startup’s strong commercial progress and ample opportunities for future expansion.

Should the deal come to fruition, it represents a substantial rise from Mistral’s previous valuation of around $2 billion from just half a year ago. Such accelerated growth would underscore the startup’s significant achievements in a short time and credential it as one of AI’s most promising players worldwide.

With a new influx of resources, Mistral is well-positioned to further pioneering work and fuel its global expansion plans. Time will tell if ongoing negotiations finalize an agreement of such magnitude, but it already stands as a testament to this French company’s ability to harness AI for broad real-world applications.

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Britain’s Wayve has landed the largest investment to date for a European artificial intelligence company, raising more than $1 billion to develop next-generation autonomous driving systems. The London-based startup will use the fresh capital, led by Japanese conglomerate SoftBank, to launch its pioneering “embodied AI” platforms for self-driving vehicles in the UK market.

Founded in 2017, Wayve develops AI that allows automated vehicles to safely learn from complex, unpredictable real-world scenarios without strict protocols. Its core technology is currently integrated into multiple EV platforms, powering advanced driver assistance on roads. The substantial Series C funding will accelerate product launches and global expansion plans.

SoftBank’s managing partner has now joined Wayve’s board, underscoring the tech giant’s vision for safer mobility through AI-powered transport. Strong support also came from leading firms Nvidia and Microsoft. Wayve CEO Alex Kendall says the investment validates the UK’s thriving AI ecosystem and potential to develop transformative technologies.

Mastering interactions with diverse road users through continual learning is key to Wayve’s mission. Its AI platforms learn appropriate responses from every trip, without human supervision – an approach it terms “embodied AI”. Wide-ranging vehicle tests in Oxfordshire showcase this capability.

While self-driving cars remain in pilot stages worldwide, the UK government anticipates major societal and economic benefits. A regulatory framework taking effect soon prepares for wide-scale autonomous deployments by 2026. The domestic sector already employs over 1,500 highly skilled workers and generated nearly half a billion pounds in investments recently.

This landmark funding round for Wayve anchors the country’s standing as a global AI leader. Its achievement illustrates how homegrown innovation can attract unmatched support for developing innovative transport solutions of tomorrow.

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Sustainable energy storage solutions provider VoltR recently announced a €4 million seed funding round to finance its growing battery reconditioning operations. Based in Pays de la Loire, France, VoltR specializes in refurbishing worn lithium-ion batteries and rebuilding them into high-performance energy packs.

Founded in 2022, VoltR was started by Alban Régnier, François Mallet, Maxime Bleskine, and Thibaud Maufront to address the lack of large-scale battery recycling infrastructure in Europe. The company uses advanced testing and modeling to evaluate retired battery cells for reuse potential. Cells that pass muster are then rebuilt into new modular battery systems offering equal performance to virgin units.

VoltR’s process aims to reduce electronic waste while lessening demand for raw material extraction. It also helps lower battery costs by resurrecting components that would otherwise be discarded. The latest round of funding will enable VoltR to build its first major reconditioning plant, a 5,000 square meter automated facility projected to refurbish 2 million cells annually. Scheduled to open within two years, the plant is estimated to create over 100 local jobs.

Investors in the seed round include C4 Ventures, Exergon, Pays de la Loire Participations, and Anjou Amorçage. VoltR plans to launch a Series A round by year’s end to further support expansion of its closed-loop battery recycling operations. The money will also fund continued R&D into efficient remanufacturing techniques. With this injection of capital, VoltR is well positioned to scale its technology and play a key role in developing Europe’s circular battery economy.

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An innovative new support programme geared towards female business owners in Irish speaking areas was officially unveiled at an event held in Spiddal, Galway last week. Titled Cumasú, the initiative aims to foster and accelerate entrepreneurship among women residing in the Gaeltacht regions of several counties including Galway, Mayo, Donegal, Kerry, Cork, Meath and Waterford.

Delivered through a partnership between regional development agency Údarás na Gaeltachta and the Empower Programme run jointly by third level institutions ATU and MTU, Cumasú consists of two strands. The first is a 12 week mixed online and in-person module designed to aid participants in developing early stage business concepts. The second element focuses on supporting female founders who have already been in operation for 18 months or more, looking to expand their enterprises.

The programme utilizes a peer learning model where women business owners can learn from one another’s experiences. Participants on the scale stage portion will come together one day per month. In launching the new initiative at Stiúideo Cuan in An Spidéal, those gathered heard about the goal of Cumasú to boost and accelerate the number of women-led businesses thriving within our Irish language communities. The scheme offers a valuable opportunity for female entrepreneurs located in the Gaeltacht to gain skills, advice and network with others on a similar journey of entrepreneurial growth.

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A new financial technology startup backed by former England defender Rio Ferdinand has launched its unique rewards program in the cities of Bristol and Bath. Yonder, which was started by alumni of credit scoring platform ClearScore, allows members to earn points on their spending that can then be redeemed at local food, drink and entertainment establishments.

Since launching in London in 2022, the fintech has signed up over 10,000 customers in the capital. Now, CEO and co-founder Tim Chong hopes to bring the benefits of Yonder’s loyalty program to residents of Bristol and Bath. The company aims to support independent hospitality businesses in both cities while helping consumers unlock more value from their money.

Backed by over £62.5 million in funding, Yonder offers a different approach to credit that builds relationships through rewards rather than debt. In addition to Rio Ferdinand, the startup has garnered investors from Northzone, LocalGlobe, RTP Global and angel backers like entrepreneur Sharmadean Reid.

Rising costs have impacted many following the pandemic. While Yonder can’t solve broader economic issues, Chong believes the rewards program will allow locals to discover great places to eat, drink and socialize near them – boosting both experiences and local commerce. Partners have seen increased sales, customer loyalty and average spending through the partnership.

Now launching in Bristol and Bath, Yonder aims to support residents and independent businesses as inflation puts pressure on budgets. By using the app, community members can enjoy more of what the cities have to offer while helping drive revenue for local favorites.

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Vitestro, an innovative Dutch startup developing autonomous blood drawing technology, has raised €20 million in its latest funding round to accelerate commercialization efforts of its groundbreaking robotic blood collection device. The Series B funding was co-led by medical technology investor Sonder Capital and new investor NYBC Ventures, and also included contributions from Invest-NL and the European Innovation Council Fund.

With over €46 million raised to date, Vitestro plans to use the fresh capital injection to obtain CE marking by the end of 2024 and begin deploying its devices in European hospitals before the end of the year. The company’s revolutionary technology combines artificial intelligence and robotics to provide precise, autonomous blood collection – reducing workload pressures on clinicians while vastly improving the patient experience.

Vitestro’s robotic device utilizes ultrasound imaging and AI-guided needle insertion to collect blood samples with unparalleled accuracy and safety. Early adopters have been impressed by how it streamlines the collection process and eases pressures in overburdened medical laboratories. Having already tested its prototype on over 1,000 individuals, Vitestro is now leading the industry’s largest evaluation of autonomous blood collection technology.

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Gaining easy access to credible, up-to-date scientific knowledge has never been more important or more difficult. Proemial, a new Danish AI startup co-founded by serial entrepreneur Geet Khosla and tech veteran Brian Pedersen, aims to change that with the launch of their free research platform ‘proem’.

Powered by the latest in artificial intelligence and natural language processing techniques, proem allows anyone to find answers to even complex questions, directly backed by summaries from the world’s leading scientific literature. Rather than sifting through hours of technical papers, users can chat conversationally with proem to dive deep into cutting-edge research topics.

Proemial co-founder and CEO Mads Rydahl, the original head of Siri product design, brings decades of expertise in AI and conversational interfaces. The platform’s unique capability to decode scientific papers for laypeople stems from Rydahl’s vision to make credible knowledge accessible for all.

Early testers report life-changing experiences using proem to better understand medical conditions and treatments. One family relied on proem to identify a more suitable diabetes drug for a loved one, based on the latest peer-reviewed studies. Proemial hopes their platform can empower many more to apply research insights to improve lives.

After closing a $2.2 million funding round led by People Ventures and Dreamcraft Ventures, proem is now available in open beta. Download the app or visit proemial.ai to start gaining answers from the vast trove of scientific research, optimized for comprehension by AI. Proemial is on a mission to build a more informed world.

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A major pharmaceutical company based in Tokyo has announced plans to purchase an American biotechnology startup specializing in oncology therapies. Ono Pharmaceutical revealed an agreement to acquire all outstanding shares of Deciphera Pharmaceuticals for approximately $2.4 billion USD. The boards of both firms unanimously approved the all-cash deal, which is expected to close this summer pending customary closing conditions.

Founded in 2003, Deciphera is a clinical-stage biopharmaceutical company dedicated to advancing novel treatments for cancer patients. The acquisition will allow Ono to strengthen its research and development portfolio in oncology. By obtaining Deciphera’s pipeline of innovative drug candidates and commercial infrastructure in the US and Europe, Ono aims to accelerate its efforts to develop new therapies for cancer.

The purchase represents a significant step for Ono to expand its global presence and capabilities in precision oncology. As a recognized leader in pharmaceutical research and healthcare in Japan, the acquisition positions Ono for further growth internationally through Deciphera’s clinical programs and commercial assets. Both companies believe the transaction will benefit cancer patients by enabling greater resources to be devoted to advancing promising new treatment options.

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A specialized unit within Bank of Ayudhya, known as Krungsri, is enhancing its resources to facilitate partnerships between Japanese companies and promising startups across Southeast Asia. Bunsei Okubo, Head of Krungsri’s Japanese Corporate and Multinational Banking Group, outlined plans to better connect investors with innovative early-stage firms in high-growth industries.

By organizing business matchmaking events and advising on expansions into new markets, Krungsri aims to stimulate deal-flow and foster sustainability. Their first Japan-ASEAN Startup Conference last year resulted in over 60 startups from six nations linking up. Another is scheduled for June to drive deals between entrepreneurs and investors. The bank is also widening efforts in Laos and Vietnam to showcase digitally-focused products addressing social and environmental issues.

Areas of focus for startups include fintech, automation, food technology, healthcare, agriculture, and other sectors aligned with environmental, social and governance (ESG) goals. To accelerate sustainable development regionally, Krungsri leverages expertise from strategic partner Mitsubishi UFJ Financial Group in developing finance options like green bonds and a fixed deposit supporting such initiatives.

As a top foreign investor – especially in Thailand – China represents opportunities that Krungsri stands ready to facilitate through East Asian expansion advising. The nation’s infrastructure, manufacturing base and tax privileges appeal to companies from China, Taiwan, Hong Kong and South Korea seeking growth. Advisory services through their “ASEAN LINK” program ease market entry across nine Southeast Asian markets.

With a 7% loan growth target, Krungsri pledges enhanced financial and knowledge assistance for both industrial and technology customers transitioning to sustainability. As Thailand’s fifth largest conglomerate with 79 years in banking, their synergies with MUFG position them well to capture arising prospects through these tailored services.

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The Korean government has unveiled an ambitious new initiative aimed at turbocharging the country’s burgeoning startup ecosystem. Dubbed the “Startup Korea Fund”, it represents a landmark public-private partnership designed to unlock billions in fresh venture capital.

Under the scheme, 21 corporations and financial institutions will pool over 300 billion won to invest alongside 200 billion won from government coffers. This combined 500 billion won war chest will be deployed to back promising local startups. Plans call for increasing the total fund size to a sizable 800 billion won going forward.

What makes the program truly innovative is its emphasis on crowding in private capital. Typically, most state-backed VC vehicles allocate 60% of funds from taxpayers. But Startup Korea Fund inverts this, with 70% private money and just 30% public financing. Further sweetening the pot are incentives like loss coverage and performance bonuses to really get corporations leaning in.

Seven major players like Hanwha and Kakao will also participate in VC investing for the first time thanks to this program. The expectation is that with such generous co-investment terms on offer, ever larger sums can be unlocked from risk-averse but deep-pocketed companies.

If successful, it would cement Korea’s status as Asia’s premier startup hub. According to the Minister, nothing before has matched the potential for this effort to supercharge local ventures. Plans are in motion to have investment operations in full swing by mid-2024 after projects are selected next May. With bold ambitions and market-leading design, Startup Korea Fund seems primed to fuel the next wave of innovation.

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