Dashtoon, the AI-assisted comic creation platform, is in advanced discussions to raise $10-12 million in its upcoming funding round from a consortium of investors, sources familiar with the matter told Entrackr. This marks the second funding round for the San Francisco and London-based startup, which also operates from Bengaluru.
According to a source requesting anonymity, “New investors alongside existing backers Matrix Partners India and Stellaris Venture Partners are in late-stage negotiations to inject approximately $10-12 million into Dashtoon.”
Founded in December 2022 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashtoon utilizes Generative AI through its proprietary product, Dashtoon Studio, enabling storytellers to seamlessly create digital comics. Narain and Gudipati, former members of the founding team at Pocket FM, and Mukherjee, known for his contributions in deep-tech teams including cancer diagnosis at Morphle Labs, bring robust expertise to the venture.
The platform not only facilitates comic creation but also empowers published authors and aspiring writers to distribute and monetize their comics and graphic novels.
Sources indicated that the deal terms have been agreed upon and are expected to be finalized within the coming weeks. The Series A financing round is anticipated to value Dashtoon between $50-60 million.
Queries directed to Dashtoon, Matrix, and Stellaris remained unanswered at the time of reporting.
In November 2023, Dashtoon reported commencing monetization efforts, projecting revenues of $15,000 in its inaugural month, with plans to scale up to $100,000 per month within the next two to three months.
Looking forward, Dashtoon aims to establish itself as a global intellectual property (IP) powerhouse by collaborating with a diverse community of creators and readers. The global comics market, dominated by Japanese Manga and Korean Webtoons, was valued at $15.5 billion in 2022 and is expected to reach $27 billion by 2032, according to Allied Market Research.
Source: Entrackr
