Hyderabad: Center of Innovation and Entrepreneurship (CIE-IIITH) Avishkar Accelerator Program Startup Instoried raises $ 1 million (approximately Rs 7.4 crore) in pre-series investment round, led by Mumbai Angels, and follow-on investments from Venture Catalysts’ 9 Unicorns Fund, London-based JPIN and others.
The AI-driven content startup has created a tool that helps brands strategize, execute, and deliver content using predictive analytics to increase customer engagement. The B2B SaaS-based startup helps brands increase engagement and increase real-time content productivity. Instoried’s AI tool helps large businesses build personal bonds with their audiences using technology to measure the effectiveness of content and rewrite their communications. The company’s approach is data-driven, scalable and measurable with long-lasting, visible results.
Instoried was part of Avishkar’s fifth group, where CIE-IIITH was instrumental in supporting Instoried with a seed fund of Rs 10 lakh, along with strategy and business mentorship. Prof. Commenting on the successful funding of Instoried, Ramesh Loganathan, CIE-IIITH, said: “All of our programs are aimed at early stages of deep technology ventures with the potential or need to work on our research. InStoried is such a starting point that uses NLP for a very interesting use case around stories. ”
According to Instoried founder Sharmin Ali, Instoried has grown more than three times in the last ten months. We found a great opportunity in this adversity and scaled down a MOM rate of 60 percent. With the Pre-Series A increase, we want to appoint a larger team and start global marketing activities focusing on global expansion and expanding our product offering. “
Source: Telangana Today