Instinct raises $1B for phone-calling AI agent

Instinct has raised $1B at a $10B valuation in a Series C from Sequoia Capital, Benchmark Capital and Coatue, according to Bloomberg. Last month the company was reported to be raising at $2.5B. Founded by Noah Shinn, Instinct is building a personal agent that plans trips, books reservations, orders groceries and uses its own phone and computer to call businesses directly.

The product arrives as Europe tightens disclosure rules for systems that speak to people. Since 2 August, Article 50 of the AI Act has required providers to design systems that interact directly with people so people are told they are dealing with an AI unless that is obvious to a reasonably well informed person. The notice must come at the start of the interaction, clearly and distinguishably, and fines reach EUR 15M or 3% of worldwide turnover.

The obligation applies to providers in third countries as well as in the union, with a limited grace period running only to 2 December for marking obligations on systems already on the market. Instinct has not said whether it operates in Europe. Meta’s Muse offers a similar booking, buying and negotiating agent, though Reuters found Meta testing human contractors to place Muse’s calls, raising questions about disclosure and sensitive information.