AI pre-publication sentiment analysis tool startup Instoried has raised $8 Mn in Series A funding round from Pritt Investment Partners and 9unicorns, Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few HNIs.
It had earlier raised $500k in seed funding from Venture Catalysts and $1 Mn in a Pre-Series A round led by 9Unicorns and Mumbai Angels.
Founded in 2019 by Sharmin Ali, the startup’s AI content enhancement platform is aimed at writers and content creators and helps them adapt their copy to ensure audience engagement. Its revenues have increased 50x in the last twelve months. The startup will use the fresh infusion of capital to expand its team and global operations.
Instoried has tagged millions of lines across business, health, politics and social media with emotion and tone. The tool can analyse any text content and predict whether it will achieve the goals of the content writer. The tool then provides real-time instructions to enhance the copy to optimise for those results.
The platform operates on a subscription model that currently charges an individual user $49 to use it for three months. The startup also offers multi-user and enterprise packages.
“We are now looking at scaling operations in the US. This fundraise will help us go to market, build a strong team in the US and add more product offerings to our existing portfolio,” said Sharmin Ali, founder and CEO. The startup had expressed interest in developing the tool to be applied to different languages earlier, but that doesn’t seem to have materialised.
The writing enhancement software market is expected to grow from $325.25 Mn in 2018 to $767.93 Mn in 2026, growing at a CAGR of 11.56%. Instoried competes with others in the segment, including Ceralytics and Contentstudio.
In the Indian content space, Mumbai-based content marketplace Pepper Content had raised $4.2 Mn in Series A funding round led by Lightspeed India in October last year to expand its geographical presence and enter new content categories like video and audio.
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