Mistral AI acquires adtech startup Pimento

Mistral AI has acquired Pimento, a Paris-based startup specializing in AI-assisted advertising creation. This marks Mistral’s third acquisition of the year, following the purchases of Koyeb and Emmi AI. The move signals a strategic shift for the French AI company as it moves down the value chain from developing foundation models to providing specialized business applications.

While the exact transaction value remains unconfirmed by Mistral, reports vary between approximately €3.8 million and €12.7 million in cash and shares. Mistral is primarily focused on integrating Pimento’s engineering and product teams to enhance 'Vibe', its conversational assistant formerly known as Le Chat.

Founded in 2022 by Florent Facq and former Apple researcher Tomás Yany, Pimento provides software that transforms brand identities and campaign data into visual advertisements and animations. This acquisition follows a recent €3 billion Series D funding round that valued Mistral AI at over €21 billion.