 "Instoried secures $200 million investment commitment from US-based GEM")
AI-enabled content platform Instoried on Thursday said the US-based investment group GEM has committed USD 200 million (about Rs 1,500 crore) investment in the company.
GEM will subscribe to the shares of Instoried whenever it goes public within a period of three years, Instoried founder and CEO Sharmin Ali said in a statement.
"GEM will invest USD 200 million in Instoried at the valuation the company will go public," Ali said.
Instoried plans to use the 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.
The company provides technology tools to help content writers improve their content.
Instoried said it has plans to grow its executive team and presence to double down its business to help writers, marketing agencies, students and professionals.
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"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," the statement said.
The capital commitment from GEM comes around six months after the company raised Series A funding round which was led by Pritt Investment Partners and 9 Unicorns, with participation from Mumbai Angels, SOSV, Venture Catalysts Angel Fund, and others.
Ali said the company has been working with MSMEs and recently made a foray into the B2C segment with lifetime subscription service.
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