Artificial intelligence-driven content intelligence platform Instoried has raised USD eight million in funding from Pritt Investment Partners and 9Unicorns with participation from Mumbai Angels, Venture Catalysts Angel Fund, SOSV and a few HNIs. The funds will be used to further strengthen tech stack, enter newer geographies and expand the team and operations, it said in a statement on Wednesday.
Instoried said it uses OpenAI’s GPT-3 technology along with in-house built proprietary AI to enable enterprises to reach their optimal content goals. The product offering includes both content evaluation and creation, some of the features being short form content generation, emotional quotient analysis, grammar check, plagiarism check, headline analysis, tonality check and panel testing, it was stated. Founder & CEO, Instoried, Sharmin Ali, said:
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. This fundraise will help us go to market, build a strong team in the US and add more product offerings to our existing portfolio”, she added. Instoried has previously raised USD two million from investors including SOSV, Artesian Investments, Mumbai Angels, 9Unicorns, Venture Catalysts, and Rockstud Capital.