[Funding] Instoried raises INR 3.2 Cr led by Mumbai Angels Network

By : |November 18, 2020 0

Bangalore based start-up Instoried leverages deep tech to create content with emotional capabilities. The startup has raised INR 3.2 Crores led by Mumbai Angels Network and participated by other investors. Instoried provides end-to-end solutions to content marketers. For that, it helps them target a particular emotion based on its identification of the brand’s emotional quotient.

About Instoried

The company has in-house developed, novel NLP models. It works in two content formats: text and video analysis. In-text, Instoried supports two languages: English and Hindi. The company has also launched a web app and sells licences of the tool for multiple language users. It is currently available in English and Hindi. Further, it will expand to cover a larger set of vernacular languages in the foreseeable future.

The startup will use the fund to hire more people and expand globally. It aims to invest in various marketing channels so that it can acquire more customers and diversify the portfolio of product offerings, said Sharmin Ali, Founder and CEO. He further added, “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.”

Talking about the investment, Shantanu Bhowmick, Deal Lead at Mumbai Angels Network said that Instoried is “well-poised to capture this market”. He further adds, “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 are going higher and digital noise is getting louder; content efficacy is becoming paramount.”

Further, Nandini Mansinghka, Co-promoter & CEO, Mumbai Angels Network, also commented that Instoried’s AI platform will offer brands, marketers and researchers content that appeals to readers or users by providing smart recommendations in real-time which can influence consumer behaviour. We welcome Instoried to our expanding portfolio and are excited to see how this platform will help large companies.”

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