Mistral AI, the Paris-based scaleup building AI models and infrastructure, has agreed to acquire French startup Koyeb, which provides a platform to simplify the deployment of applications in the cloud.
The deal marks Mistral’s first acquisition to date, confirming previous Sifted reporting that the company plans to accelerate growth through M&A.
Mistral, which launched in 2023, has become one of Europe’s major players in AI, promising to build homegrown models capable of competing with US-based giants like OpenAI and Anthropic.
In less than three years, the company has raised nearly €2.8bn and reached a valuation of €11.7bn. Mistral has also expanded into AI infrastructure with the launch of a compute platform last year, which it declared would provide customers with a sovereign cloud offering for their AI workloads.
“Koyeb’s product and expertise will accelerate our development on the compute front and contribute to building a true AI cloud,” Mistral’s cofounder and CTO Timothée Lacroix declared in a statement.
Koyeb’s three cofounders and 13 employees are expected to integrate Mistral’s engineering team next month. The financial details of the acquisition were not revealed.
What does Koyeb do?
Launched in 2019, Koyeb is a “serverless” cloud platform, meaning that it lets developers deploy and run applications without managing the cloud infrastructure themselves.
The startup builds technology to automatically deploy applications across multiple cloud and service providers globally, reducing operational complexity for utilizers. In 2023 it raised a $7m seed round led by French VC Serena.
“AI has redefined cloud infrastructure. We started Koyeb to build the best serverless cloud platform to run and scale intensive applications globally. By joining Mistral AI, we plan to double down on that mission with the support and resources of a global AI leader,” declared the startup’s cofounder Yann Leger in a statement.
Last year Mistral recruited a strategic operations and corporate development associate in charge of M&A. Sources notified Sifted at the time that acquisitions were becoming a strategic priority for the scaleup as the global AI race heats up.
In 2025 OpenAI acquired five companies, including product testing startup Statsig, which it bought for $1.1bn, and AI hardware developer io, acquired for $6.5bn.
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