[Funding Alert] AI-Driven Vernacular Start-up Instoried Raises Funds From SOSV
This is the second seed round funding raised by Instoried. The start-up last raised funds in August 2019 from Venture Catalysts and Jain Angel Network
Bengaluru-based AI-driven, deep-tech start-up Instoried has raised an undisclosed amount of funds from SOSV and its Shanghai-based Chinaccelerator that provides seed funding to start-ups across the world.
Founded by Sharmin Ali and Sutanshu Raj, Instoried provides brands with the information of how their content emotionally affects customers. According to the start-up, “Instoried's tool helps brands emotionally target customers by identifying the brand's emotional quotient and giving tailor-made recommendations, thereby boosting engagement and increasing content productivity, all in real-time using AI.”
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According to a company statement, the start-up is tapping the content market that is pegged at $300 billion.
Commenting on the funding, Sharmin Ali, co-Founder of Instoried, said, “We are happy to associate with SOSV and Chinaccelerator in our start-up journey. The tremendous network that SOSV has built over the last few years will help us scale our reach globally. We will be using these funds for global expansion.” The B2B start-up plans to use the funding to achieve market objectives and expansion.
William Bao Bean, general partner at SOSV and managing director at Chinacceletator and MOX-Mobile Only Accelerator, talking about the investment said, “Marketers have been leveraging technology to engage and sell better to customers for years.” He further added, “We are excited because Instoried is doing the same for corporate communications, leveraging data and machine learning to drive emotional engagement for the traditional industry.” SOSV has funded over 940 start-ups so far.
Last month, SOSV closed its fourth fund called SOSV IV at $277 million. The firm has made 20 investments in Indian start-ups so far.