Seems fair enough to me, if they had a barely trained prototype it probably would have been 113M for 15%.
I think it just means that the investors will hold 113/260 ~43% of the shares, with the founders controlling the other 57%.
Likely the 3 founders have 12% each (after a 4 year vest) and the remainder (21%) goes to the option pool.
$113M is like a cost of 10 full LLaMA-65B training runs. Pitiful money to do any serious AI research.
Seed rounds are usually 10% - 20%, I haven't heard of 43%.
These are considered "incubated" companies - I don't think these usually go well. Common in biotech though.
Perhaps there is more cultural willingness to surrender 50% of a company when you live in France and are already used to sending 50% of your income to the government. But even as an American, I think I could be convinced to give up 50% of my newly formed company for $113 million of runway...