Bengaluru's Instoried Raises INR 3.2 Cr Led By Mumbai Angels Network
The startup will utilize fresh capital to hire more talent, expand its operations globally and invest on various marketing channels
Deeptech-based content marketing platform Instoried on Wednesday announced it has raised INR 3.2 crore led by Mumbai Angels Network and others. Founded in 2018, the startup provides end-to-end solutions to content marketers, helping them target a particular emotion based on its identification of the brand’s emotional quotient.
The Bengaluru-based startup has built novel neuro-linguistic programming (NLP) models that work in text and video analysis. When it comes to text, the startup supports two languages—English and Hindi. The startup aims into other vernacular languages as well in the coming days.
Commenting on the development, Sharmin Ali, founder and chief executive officer of 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 per cent 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."
Commenting on the investment, 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 Mansinhka, co-promoter and CEO of Mumbai Angels Network expressed happiness to have Instoried as part of their growing portfolio and is excited to see instoried help large companies