PE Fund Investments
US-based GEM agrees to provide deeptech startup Instoried with $200-M on tap
Instoried, a Bangalore-based startup offering AI-based content editing tools, is to avail a Share Subscription Facility of up to USD 200 million from Global Emerging Markets (GEM), via GEM Global Yield LLC. The amount is to be drawn at the option of the company, for a 36-month term that includes a clause that requires public listing. Instoried uses AI to help users write more lively content, make messaging crisper, improve headline impact, improve empathy and tone to create a better connection with the target audience. It had earlier raised a Series A funding round led by Pritt Investment Partners and 9 Unicorns, with participation from Mumbai Angels, SOSV, Venture Catalysts Angel Fund, and others. Instoried plans to use the new capital to expand its global marketing efforts, primarily in the US, and invest in its technology to add a Google Chrome extension, a WordPress plug-in, and other elements to its product portfolio. For the India market Instoried will focus on hiring for leadership and technology roles, develop the tech stack to launch its own content generation tool and invest in marketing in India and Asia markets.
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