Inkitt: AI-powered Publishing Platform allows writers to self-publish their stories. It uses AI to identify potential bestsellers. It has raised $37 million in a Series C round led by Khosla Ventures. The company plans to use the funding to expand its content assistance. Those include AI-generated stories, personalized fiction, games, audiobooks, and video adaptations.
Inkitt was founded in 2023 by former Google and Meta researchers. They wanted to create a new way of publishing that influences data and AI to discover and refine stories that resonate with readers. The company has two applications. Inkitt, where writers can upload their stories and get feedback from a community of 33 million users, The other one is Galatea, where readers can access and purchase the stories that Inkitt’s AI has selected and enhanced.
Inkitt claims that its AI algorithms are 20 times more effective than traditional publishing methods at predicting bestsellers. Also, it has produced dozens of them so far. The company also says that it is the 11th top-selling publisher globally. Its revenue has doubled in the last year.
The company’s vision is to become the “Disney of the 21st century”. They want to become so by creating a vast library of original and miscellaneous content across multiple media formats. To achieve this, Inkitt is exploring new ways of using AI to generate and customize stories. It is also trying to produce video content based on its IP. The company also aims to move into the gaming and audiobook markets and to support more languages on its platform.
Vinod Khosla, the founder of Khosla Ventures, said that he believes in Inkitt’s approach of using AI to create hyper-personalized entertainment for the future. He also praised the company’s focus on open source and ethical AI, as well as its ability to attract and empower undiscovered writers.
