Nvidia-Backed Pigment Nabs $250 Million to Challenge Microsoft

Pigment, a French AI company that competes with Microsoft’s Excel and PowerPoint, has raised $250 million in a funding round, bolstering a push by a prominent European startup to take on an American technology giant. The financing, set to be announced Tuesday, values the company at $2.3 billion. The Scaleup Europe Fund led the round, with participation from Nvidia Corp. and World Innovation Lab, a US and Japan-based fund, as well as existing institutional investors Iconiq, IVP and Meritech Capit