Bangalore based AI-driven deep tech content startup, Instoried has raised Rs 3.2 crores from Mumbai Angels Network.
Led by Mumbai Angels (MA), the new round of funding also saw participation from other investors.
Founded by Sharmin Ali and Sutanshu Raj in 2018, Instoried provides end-to-end solutions to content marketers and helping them target particular emotions based on its identification of the brand’s emotional quotient.
Speaking on the fundraise, Sharmin Ali, Founder & CEO, Instoried, said, “We, at Instoried, are experiencing a phenomenal growth curve this year. We started selling only from March 2020 and have grown tremendously hence at a 60% MOM. With a very lean team, we did not expect to scale at this speed.”
“With the MA investment, we want to hire more people and also expand our operations globally and invest on various marketing channels to be able to acquire more customers and diversify our portfolio of product offerings,” Sharmin said.
Commenting on the funding in Instoried, Shantanu Bhowmick, Deal Lead, Mumbai Angels Network, said, “The start-up certainly checks a few critical parameters in terms of tech, passionate founders, and a large global marketplace for their services. With online global sales poised to touch $5 trillion, advertising rates going higher and digital noise getting louder, content efficacy is paramount – Instoried is well poised to capture this market.”
Nandini Mansinghka, Co-promoter & CEO, Mumbai Angels Network, commented “Instoried has built an AI platform which analysis emotion quotients in your content. It will offer brands, marketers, and researchers content that appeals to readers or users by providing smart recommendations in real-time which can influence consumer behavior. We welcome Instoried to our expanding portfolio and are excited to see how this platform will help large companies.”