Companies

Instoried raises $1 million funding in pre-Series A

Our Bureau Hyderabad | Updated on November 19, 2020

Instoried, a startup incubated at the IIIT-H’s Centre of Innovation and Entrepreneurship (CIE-IIITH) has raised $1 million in pre-Series A round of investment, with Mumbai Angels leading the round. The artificial intelligence-driven content startup has created a tool, which helps brands to strategise, execute, and deliver content using predictive analysis, to increase customer engagement.

The business-to-business software-as-a-service startup helps brands boost engagement with their customers and increase content productivity in real-time. Instoried was part of the fifth edition of CIE-IIIT-H’s accelerator Avishkar. Avishkar sanctioned a seed fund of ₹10 lakh and mentorship to the start-up.

Currently in its 11th cohort, Avishkar invests ₹10 lakh each of the start-ups that are short-listed for the accelerator programme.

“Out programmes target early stage deep tech start-ups with potential or need to work with our ecosystem. Instoried built an interesting use case around content using natural language processing,” Ramesh Loganathan, CIE- IIITH, said.

“With the proceeds that we raised, we want to hire a larger team and initiate marketing activities globally,” Instoried Founder SharminAli said in a statement on Thursday.

Published on November 19, 2020

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