Mistral AI, a French startup founded by three white men, recently raised $113 million in seed funding just four weeks after starting up. While this news may seem like a positive sign for the AI industry, it is also raising flags for those concerned about inclusivity and diversity in the startup world.
Many women and individuals of color are struggling to receive funding, despite the current hype around AI startups. While women have received some funding in AI, black founders are still greatly underrepresented, and there isn’t enough data available to determine how many underrepresented founders are seeking funding in France.
It is worth noting that the founders of Mistral AI fit the profile of those who are typically funded, with impressive educational backgrounds and experience in companies like Google’s Deep Mind and Meta. However, this type of privilege is not accessible to everyone, and there must be a more diverse range of founders receiving funding in order for the industry to truly flourish.
While there are efforts being made to support women in France, fundraising for black founders remains discriminatory, though it is often difficult to ascertain just how discriminatory due to a lack of available data. Despite this, it is important to continue prioritizing diversity and inclusivity in the startup world, particularly in the AI industry, in order to create a more equitable and innovative future.
