Instoried, an augmented writing platform which improves customer interest and engagement, announced that it has raised $1 million in pre-Series A funding led by 9Unicorns and Mumbai Angels, according to YourStory report.
Other investors that participated in the funding round are JPIN, Jain Angel Network, SOSV, Artesian, FAAD Angel Network, Lead Angels, and a US-based VC.
The startup plans to utilise the fresh funds to fuel expansion, hire a larger team, initiate marketing activities, and increase its product offerings globally.
Commenting on the investment, Apoorv Ranjan Sharma, MD and Co-founder, 9Unicorns said, “AI-based content marketing is a fast-growing segment globally with a $70 billion market size. Companies across the globe have been now leveraging AI-based content to engage with their customers for better sales. We are extremely delighted to have found and invested in a startup that has been able to crack this growing segment. We believe that as businesses are moving online, the need for such services are likely to grow exponentially.”
Speaking about the development, Sharmin Ali, Co-founder and CEO, Instoried said, “We have grown over 3X in the last 10 months. We found a huge opportunity in this adversity and have scaled at a rate of 60 percent month-on-month. Brands globally now understand and acknowledge the importance of having a strong online engagement as an absolute mandate with the new normal.”
Founded in 2018, Instoried helps content writers in e-commerce, news, FMCG and other verticals to optimise emotions in their marketing content.
–AN
