Midjourney Faces New Rival in Ideogram AI. Founded in Toronto by four authors of Google's Imagen paper, Ideogram AI has secured $120 million in an angel round, led by a16z and Index Ventures. The platform offers free trial registrations and excels in precisely generating text, outperforming existing tools like Midjourney. Ideogram AI also matches Midjourney in image generation quality. The founding team is robust, hailing from Google Brain. Ideogram plans to delve into video generation and other areas in the future.