Weekly reports
AI funding week: five announcements, two currencies
Mistral, Cognition, Positron, Harvey and Clay announced financing. Positron’s additional tranche is capped, so the total needs context.
Updated October 3: replaced the converted $7.1B total with original-currency figures; preserved lower-bound amounts, separated Positron’s additional capped tranche, and corrected Clay’s announcement date to September 9.
These selected announcements state €3B and more than $3.04B, kept in their original currencies. The dollar total uses over $2B for Cognition, $375M for Positron’s Series C, $550M for Harvey and $115M for Clay. Positron also describes up to $500M in an additional tranche, excluded from that total. Announcements do not establish that every conditional amount has been received; this is not a complete market total.
Mistral AI
€3B · Series D · Sep 8
- Valuation
- More than €21B post-money
- Investors
- Samsung; Scaleup Europe Fund and PSG Equity as co-leads
Mistral links the financing to its open-weight model and sovereign-AI plans. The amount remains in euros; no exchange-rate assumption is added.
Mistral AI · Source published:
Cognition AI
More than $2B · Series E · Sep 8
- Valuation
- $48B; basis not specified
- Investors
- Andreessen Horowitz, Accel, Founders Fund, General Catalyst and Avenir
The company says it raised over $2B. That wording gives a lower bound, not an exact round amount.
Cognition · Source published:
Positron AI
$375M + up to $500M · Series C and C-1 · Sep 10
- Valuation
- Headline: $5B post-money
- Investors
- NEA, Atreides, Valor, Andra, SemiAnalysis Capital and Jim Clark
The release describes $375M at a $3.5B pre-money valuation and up to $500M in a further tranche. Its $875M headline includes that cap.
Positron via PR Newswire · Source published:
Harvey
$550M · Not named in announcement · Sep 9
- Valuation
- $15.5B; basis not specified
- Investors
- Diffusion and Lightspeed
Harvey announces financing for its legal-AI platform. The announcement does not name a round stage or a pre/post-money valuation basis.
Harvey · Source published:
Clay
$115M · Series D · Sep 9
- Valuation
- $7.1B; basis not specified
- Investors
- Wellington Management
The company release is dated September 9. Its funding and valuation figures do not measure the effectiveness of a sales workflow.
Clay via BusinessWire · Source published:
Analysis
- The amounts describe different businesses: model development, coding software, inference chips, legal work and sales workflows. They are not a ranking of tool quality.
- Keep euros and dollars separate unless a dated exchange rate is stated. A capped additional tranche also needs its own line.
- The figures come from company announcements, including issuer releases distributed through newswires. Product performance requires separate evidence.