Mistral AI raises $415m, Near Intelligence files for bankruptcy, plus a whole host of acquisitions. The full corporate venturing activity round up for December 2023.

artificial intelligence

As we draw closer to Christmas, corporate venture deals are still getting done, and we’re keeping track.

Our weekly update gives you the total run-down of all the corporate venturing activity from last week, plus our monthly deals tables give you a detailed account of every corporate-backed funding deal that has occurred so far in 2023.

Browse all the corporate-backed deals here.


Paris-based startup Mistral AI has closed its series A funding round, raising approximately $415m at a valuation of around $2bn. Co-founded by former Google’s DeepMind and Meta employees, the company focuses on generative artificial intelligence with an open and decentralised approach. Mistral AI’s recent model, Mistral 7B, was released as a free download under the Apache 2.0 license. The round had corporate participants including software companies Salesforce and Nvidia, and delivery company CMA-CGM. The company plans to monetise its foundational models through a developer platform, allowing other companies to use Mistral AI’s models via APIs.

See the rest of December’s corporate activity so far.


Near Intelligence, a privacy-focused data intelligence company, and its subsidiaries have voluntarily initiated Chapter 11 bankruptcy proceedings in the United States. The company plans to sell its assets through a court-supervised process. Near has secured up to $16m in debtor-in-possession financing from existing lenders. Blue Torch Finance LLC has submitted a binding bid to acquire Near’s assets for at least $50m, serving as a “stalking horse” bidder. The company intends to continue operations during the bankruptcy process and seeks court approval for sale procedures. Investors in Near Intelligence included technology company Cisco and telecoms company Telstra.


Dutch investment firm Rockstart has launched its second agriculture and food-focused fund, EU-Startups reported last week. AgriFood Fund II will finance early-stage startups focused on the food supply system. Rockstart’s LPs include corporates such Arla Foods, the Denmark-based dairy company, and natural gas supplier Eneco. Read the full story.

Japan-headquartered personal care and beauty company Shiseido has announced the launch of a corporate venture fund. Shiseido Long Term Investments for the Future (LIFT) Ventures will invest in early stage startups in the beauty and wellness industry. 

Climactic, a seed venture firm founded by Josh Felser and ex-Lyft executive Raj Kapoor, has raised $65m for its inaugural fund, with a focus on climate tech. The firm positions itself as a bridge between general tech and climate solutions, emphasising its partners’ startup founder background. Heritage Group, along with other investors, have backed Climactic. The firm, with 13 portfolio companies, aims to contribute to climate solutions through software innovation.


US pre-seed investor Techstars has partnered with Mitsui Fudosan, a Japan-based real estate corporation, and the governmental organisation Japan External Trade Organisation (JETRO) to launch an accelerator. Read the full story.


This table gives a summary of the M&As that have happened last week.

Acquired company Portfolio company description Sector Sub-sectos Country Acquirer Deal size ($) Deal date Previous corporate investors Previous other investors
Orion Labs (formerly Voice-based collaboration platform IT Enterprise software US Modaxo (Vontas) Undisclosed 11 December 2023 Dell (Dell Technologies Capital), Motorola Solutions (Motorola Solutions Venture Capital) WRVI Capital, Avalon Ventures, Allen and Company, Argentum Capital Partners, Mathers Associates,  Argentum, Avalon Ventures, Thermo Companies, Fuel Capital, David Recordon, James Lindenbaum
Waybeo Cloud telephony analytics provider IT Big data & analytics (IT) India CareStack Undisclosed 12 December 2023 Airtel
3Victors Travel data analytics provider Services Accommodation & travel US ATPCO Undisclosed 12 December 2023 Airlines Reporting Corporation, JetBlue (JetBlue Ventures)
Goals101 Transaction behavioural intelligence company that accelerates Financial Payment technology & cryptocurre India M2P Fintech 30 13 December 2023 Dentsu, Alphabet (Google for Startups Accelerator) Nexus Venture Partners
Nash Renewables Design software producer for renewable energy projects Energy Renewable energy Germ TotalEnergies Undisclosed 13 December 2023 TGS HEC Paris, Innovationsstarter Fonds
OhmConnect Load balancing services provider Energy Energy software & analytics US Alphabet (Sidewalk I 100 14 December 2023 Alphabet (Sidewalk Infrastructure Partners), Telus (Telus Ventures), Carrier Global (Carrier Ventures), Aspect Ventures, City Light Capital, Radicle Impact, AME Cloud Ventures, Cthulhu Ventures, Mark Pincus, Floodgate, ClearSky, Elemental Excelerator
Bux Online brokerage Financial Personal finance & wealth manage Nethe ABN Amro Bank Undisclosed 14 December 2023 ABN Amro (ABN Amro Ventures), Tencent, Prosus (Prosus Ventures), Optiver Citius, Endeit Capital, HV Capital, Velocity Capital Fintech Ventures, Seeders, Orange Growth Capital, Initial Capital, Silicon Valley Bank, 5Square, Kreos Capital
Mojo Sports Sports management software provider Media Sports & Gambling US TeamSnap Undisclosed 14 December 2023 United Talent Agency (UTA Ventures) Wise Ventures, Alpha Edison, Ironfire Ventures, LionTree, RndrCo, Spencer Rascoff, Brian Lee
Angela Logan

Angela Logan is news and production editor at Global Venturing.