[Funding alert] Instoried raises $200M from GEM, seeks to go public
Web platformhas announced that it has signed an agreement with GEM Global Yield, an alternative investment group with offices in Paris, New York, and the Bahamas. Under the agreement, GEM will provide a Share Subscription Facility of up to $200 million to be drawn at the option of the company for a 36-month term following a public listing.
The announcement comes in less than six months of Instoried announcing its Series A funding, hence making this the fastest growing deep tech startup led by a woman founder. Previously, the startup's Series A funding round was led by Pritt Investment Partners and 9 Unicorns, with participation from Mumbai Angels, SOSV, Venture Catalysts Angel Fund, and others.
Instoried is a tech-based content startup that helps people craft empathetic and more effective written content.
The company plans to use the infusion of capital to expand their global marketing efforts, primarily in the United States, and invest in its technology to add a Google Chrome extension, a WordPress plug-in, and other elements to its product portfolio.
“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 CEO of 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,” she added.
“We are committed to helping people communicate better with the written word. We’re building the only tool you’ll ever need to create empathetic, original content that will connect with your audience. The year 2022 has a lot in store for us and we are excited to unravel things one-by-one.”
The team also has aggressive plans to grow its executive team and presence to double down on their mission to help writers, marketing agencies, students, professionals and more to use Instoried to write more empathetic, original, and more lively content.
For the India market, Instoried will focus on hiring for leadership and technology roles, develop the tech stack to launch their own content generation tool and invest in marketing in India and Asia markets.
Instoried uses AI to help people write better, original, and more lively content, make messaging crisper, improve headline impact, improve empathy and tone ultimately creating a better connection with the target audience.
The startup is actively looking to add US based roles, including head of sales, growth hacking, and operations.
Edited by Megha Reddy