IIIT-H startup raises funds
Hyderabad: Centre of Innovation and Entrepreneurship (CIE-IIITH) Avishkar accelerator programme startup Instoried raises $1 million (approximately Rs 7.4 crore) from pre-series A round of investment, with Mumbai Angels leading the round, and follow-on investments from Venture Catalysts’ 9 Unicorns Fund London-based JPIN and others.
The AI-driven content startup has created a tool which helps brands to strategise, execute, and deliver content using predictive analysis to increase customer engagement. The B2B SaaS-based startup helps brands to boost engagement and increase content productivity in real-time. Instoried’s AI tool helps large companies build personal connections with their audiences by using technology to measure the effectiveness of content and rewrite their communication. The company’s approach is data-driven, scalable, and measurable with long-lasting, visible results.
Instoried was part of Avishkar’s fifth cohort where CIE-IIITH was instrumental in supporting Instoried with a seed fund of Rs 10 lakh along with providing strategy and business mentoring. Commenting on Instoried’s successful funding, Prof Ramesh Loganathan, CIE- IIITH said, “All our programmes target early-stage deep-tech startups with potential or need to work with our research. InStoried is one such startup leveraging NLP for a very interesting use case around stories.”
According to Instoried founder Sharmin Ali, “Instoried has grown over 3X in the last 10 months. We found a huge opportunity in this adversity and have scaled at a 60 per cent MOM rate. With the pre-series A raise, we want to hire a larger team and initiate marketing activities globally with a focus on global expansion and increasing our product offerings”.
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