Viral AI startup Instinct has raised $350 million in Series B funding, bringing its total funding to that amount and giving the company a valuation of $2.5 billion, according to the Wall Street Journal. The funding round was co-led by Index Ventures and Benchmark, the Journal reported. The company, founded last year and led by 23-year-old Noah Shinn, offers an AI assistant that has gained popularity among early users.
Instinct, offered by Spear Street Technology, allows users to connect it to their apps and devices and communicate with it via texts and calls. Shinn expressed satisfaction with the early user feedback, noting that users have used the app to plan cross-country road trips, buy groceries and concert tickets, cancel subscriptions, and even plan weddings. "I’m thrilled with everything our early users are doing with Instinct," Shinn wrote in a tweet.
Instinct, which has a lo-fi website, is currently in private beta. However, it has sparked controversy online due to privacy concerns, with users worried about the app’s generous permissions and terms of use that some find invasive. The company’s rapid rise has drawn attention in the tech industry, with its success reflecting the growing interest in AI-driven tools.
Source: techcrunch
