Instoried has raised $8 million in a funding round led by Pritt Investment Partners and 9 Unicorns. Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few high networth individuals participated in the funding round. Till now, the startup raised a total of $10 million.
The capital will be used to strengthen the company’s tech stack, and for expansion and hiring, according to a statement.
Founded in 2019 by Sharmin Ali, Instoried is an augmented writing platform which improves customer interest and engagement
“With all brands selling online and the world going virtual, we were able to identify a huge opportunity in this adversity (pandemic time) and have grown 50X in the last one year. We are now looking at scaling operations in the US,” Ali said. The fresh capital will help the company go to market, build a strong team in the US and add more product offerings to its existing portfolio, she added.
“As the digital marketing industry continues to grow, we believe Instoried is well-positioned with their product to take advantage of this opportunity and quickly penetrate the market,” said Scott Tripp of Pritt Investment Partners. “We are excited and proud to be a lead investor in the company and look forward to seeing the continued rapid growth of the company.”
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