Instoried, an artificial intelligence (AI)-based content intelligence platform, has secured a capital commitment of as much as $200 million from alternative investment fund GEM Global Yield Fund LLC.
Under the agreement, GEM, the fund manager of GEM Global Yield Fund, will be providing a share subscription facility of up to $200 million, which can be drawn at the option of the company for a 36-month term following a public listing, the company said in a statement on Thursday.
Instoried said it plans to use the funds to expand its global marketing efforts, primarily in the US.
The company also aims to invest in its technology and said it aims to add a Google Chrome extension, a WordPress plug-in, and other elements to its product portfolio.
Instoried is eyeing expansion of its executive team, and seeks to onboard US based roles, including head of sales, growth hacking and operations.
For the India market, the company plans to plans to develop a tech stack to launch its own content generation tool, with a focus to hire new leaders and tech talents.
It also looks to invest in India and Asia markets.
“We’re excited about the opportunity to expand our technology capabilities and reach more people where they live, directly in the applications where they create content,” said Sharmin Ali, Founder and Chief Executive Officer, Instoried.
“Oftentimes people don’t consider the tone or emotion conveyed in what they’re writing. Instoried helps people convey the proper tonality in everything they write from email to blogs, from marketing copy and advertising to long-form articles,” Ali added.
The company claimed that with the $200 million capital commitment, Instoried has become the fastest growing deep tech startup led by a woman founder.
Instoried, founded in 2018, uses AI (artificial intelligence) to help people write better original and more lively content, making messaging crisper, and improving headline impact to create a better connection with the target audience.
The platform’s proprietary algorithm powers a collaborative content creation tool that provides instant feedback in real-time.
In October 2021, the company had raised $8 million as a part of its Series A funding round led by Pritt Investment Partners and 9Unicorns with participation from Mumbai Angels, Venture Catalysts Angel Fund and SOSV.
