The seed financing round—led by venture capital heavyweights Andreessen Horowitz and Index Ventures—also included several prominent investors and computer scientists with ties to Canada, such as Two Small Fish Ventures, a firm established by Wattpad co-founders Eva and Allen Lau; Toronto-based Golden Ventures; Raquel Urtasun, the CEO of self-driving truck startup Waabi; and Andrej Karpathy of OpenAI. (The Logic)

Talking point: Ideogram is the latest company to benefit from investors’ interest in generative AI. The platform includes a social-media-esque feed filled with images users created by feeding simple prompts to its AI. The technology, Index Ventures wrote in an announcement on LinkedIn, makes “creative expression more accessible, fun and efficient.” Ideogram’s leadership team is made up of a number of Google alumni, including CTO William Chan, who was previously with Google Brain Toronto, and CEO Mohammad Norouzi, who earned a computer science PhD at U of T before joining Google.