Content Deeptech Startup: Instoried secured $200 Mn via GEM
- ByStartupStory | April 8, 2022
Instoried, the content optimisation startup, has secured a $200 Mn capital commitment from GEM, an alternative investment firm.
An agreement has been signed by the Startup with the investment company that will help it scale up operations. GEM will provide a share subscription facility of upto $200 Mn that will be available to be drawn following the public listing of the startup, as per contours of the deals available in a report. The commitment will be bound by the condition that within 36 months of signing the agreement Instoried will have to file for an IPO.
Essentially, in the next three years, the startup has hinted that it will go public via a SPAC or a traditional IPO. To expand its global footprint including marketing efforts in the US, the capital will be used by the startup. In order to scale product development and ramp up top-level hiring, the infusion will also be used.
Back home, to hire more for technology and leadership roles the funding will be used. In order to invest more in marketing particularly across Asia, including India the startup also plans to use the infusion.
Instoried was founded in 2019 by Sharmin Ali. An AI-powered content enhancement platform, Instoried is aimed at writers and content creators. To better connect with target audiences, it enables users to adapt their written content.
The startup claims to leverage AI to ensure that its customers get clear and concise copies, utilising more than 30 Mn data points. A collaborative content creation tool is also offered by it that provides instant feedback in real-time.
As part of its Series A funding round led by Pritt Investment Partners and 9unicorns, this comes barely six months after the deeptech startup raised $8 Mn. From Venture Catalysts, it had previously also raised $500K in seed funding. Later, in a Pre-Series A round led by 9unicorns and Mumbai Angels, it raised $1 Mn.
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