The Toronto-based company said that Radical led the US$7.2 million seed round. Cohere CEO Aidan Gomez was among the other investors, as were a16z’s Speedrun startup program and OpenAI’s Larry James Erwin, who works on the AI giant’s startup and venture capital team. (The Logic)

Talking point: General Magic is working on exactly the type of technology that’s rattling insurers and their investors. Its AI agents text potential customers shopping for auto and life insurance, to speed up the clarifying questions that insurers need to generate a quote. General Magic raised the money amid investor worries that consumers will use AI agents to search out and negotiate ever-lower insurance premiums. In a press release, General Magic said it wants to help insurers improve their business models with similar technology, though Troy Kirwin, investment partner at a16z Speedrun, said the company has the ability to “disrupt legacy industries.”