Instoried, an artificial intelligence-fueled writers' assistance tool, said it's raised $10 million in Series A financing.
The company, whose U.S. headquarters is in Santa Monica, also said it's secured access to a $200 million fund provided by the Global Emerging Markets Group.
Instoried said the 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 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," the company said. "Additionally, the team has aggressive plans to grow its executive team."
"Oftentimes people don’t consider the tone or emotion conveyed in what they’re writing," said Instoried founder and CEO Sharmin Ali in a statement. "Instoried helps people convey the proper tonality in everything they write from email to blogs, from marketing copy and advertising to long-form articles. We are committed to helping people communicate better with the written word."
Founded in India, Instoried plans to go public in the near future, reported India's Business Standard, through either a special purpose acquisition company or traditional initial public offering.
