Instoried, an AI pre-publication sentiment analysis tool startup, has signed an agreement with Luxembourg-based private alternative investment group GEM Global Yield (GEM), under which the latter will provide a Share Subscription Facility of up to USD 200 million, to be drawn at the option of Instoried, for a 36-month term following a public listing. Instoried seeks to go public via SPAC or traditional IPO.
Instoried, an AI pre-publication sentiment analysis tool startup, has received an investment of USD 200 million from Luxembourg-based private alternative investment group GEM Global Yield (GEM).
Recommended ArticlesView All
Pakistan Economic Crisis | What happens if the country defaults on its debt
Feb 8, 2023 IST5 Min(s) Read
View | Democratising digital markets, the ONDC way
Feb 8, 2023 IST6 Min(s) Read
Worldview | State of the Union Address — Biden knows how to aim the sling
Feb 8, 2023 IST6 Min(s) Read
Considering buying an SUV? Factor in the waiting period
Feb 8, 2023 IST3 Min(s) Read
The firm has signed an agreement with GEM, under which the latter will provide a Share Subscription Facility of up to USD 200 million, to be drawn at the option of Instoried, for a 36-month term following a public listing. Instoried seeks to go public via SPAC or traditional IPO.
The announcement comes after the startup raised USD 8 million in its Series A funding round led by Pritt Investment Partners and 9 Unicorns, last year. The firm said this fresh capital infusion has made it the fastest-growing deep tech startup led by a woman founder.
“We’re excited about the opportunity to expand our technology capabilities and reach more people where they live, directly in the applications where they create content. Oftentimes people don’t consider the tone or emotion conveyed in what they’re writing. Instoried helps people convey the proper tonality in everything they write from email to blogs, from marketing copy and advertising to long-form articles,” said Sharmin Ali, Founder and CEO of Instoried.
“We are committed to helping people communicate better with the written word. We’re building the only tool you’ll ever need to create empathetic, original content that will connect with your audience. The year 2022 has a lot in store for us and we are excited to unravel things one by one,” Ali added.
The firm intends to use the fresh capital to expand its global marketing efforts, primarily in the United States, and invest in its technology to add a Google Chrome extension, a WordPress plug-in, and other elements to its product portfolio. Instoried is actively looking to add US-based roles including head of sales, growth hacking, and operations.
Additionally, the team has aggressive plans to grow its executive team and presence to double down on its mission to help writers, marketing agencies, students, professionals and more to use Instoried to write more empathetic, original, and lively content.
For the Indian market, Instoried said it will focus on hiring for leadership and technology roles, develop the tech stack to launch its own content generation tool and invest in marketing in India and Asia markets.
Founded in 2019, the startup offers an AI content enhancement platform that helps writers and content creators to ensure their copy is engaging. The startup claims that its tool can analyse any text and predict whether it will achieve the goals of the content writer. The platform then provides real-time instructions to enhance the copy to optimise for those results.
(Edited by : Priyanka Deshpande)
First Published: Apr 7, 2022 4:30 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!