Bengaluru-based, AI content platform, Instoried has raised INR 3.57 crore in a seed funding round. The AI content platform receives the amount from Mumbai-based incubator, Venture Catalysts, according to a media report.
The company, which currently provides its services in English and Hindi, will use the funds to expand its product into other languages, Instoried said in its statement.
This is the best time to build a product that not only analyses vernacular content but also gives smart recommendations to make it emotionally engaging, Co-founder and CEO, Sharmin Ali told the daily news, VC Circle.
With a total addressable market size of $300 billion, the deep tech market for content, in particular, holds great potential, President and Co-founder of Venture Catalysts, Apoorv Ranjan Sharma told the daily news.
Instoried, which is administered by Instoried Research Labs Pvt. Ltd was established in 2018 by Sutanshu Raj and Sharmin Ali. Ali, who is an alumnus of Visvesvaraya Institute of Technology, has earlier worked in Mu Sigma as a senior business analyst. While Raj, a former student of the Tampere University of Technology, has worked with the Public Health Foundation of India and ASADEL Technologies Pvt. Ltd.
The company employs an AI-based tool that facilitates brands to strategize content to surge customer engagement on their website. Further, the AI tool renders customized word suggestions that clients use frequently.