# Instaread

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/instaread

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.instaread.co
- Total disclosed funding: $1.7M
- Latest round: Seed (May 5, 2016)
- Investors on record: 3

## About

Instaread, Inc. is a service-focused company that delivers concise audio and text summaries of bestselling books, enabling efficient knowledge acquisition for users with busy schedules.Founded in 2014 in San Francisco, US, Instaread, Inc. specializes in providing users with summaries of popular books. The company was established by Rahul Chitrapu and Vishnu Chapalamadugu. Instaread has raised a total of USD 1.66 mn through 2 funding deals, with the most recent being a SEED round on May 5, 2016, which was supported by Pear VC, Wavemaker Partners, and other investors. Rahul Chitrapu currently serves as the CEO.Instaread offers a distinctive service centered around providing users with concise summaries of bestselling books, available in both audio and text formats. The core product enables subscribers to access key insights from a wide range of categories, including business, health, self-help, politics, and science, through 15-minute segments. This service aims to facilitate quick and efficient learning for users, allowing them to acquire knowledge from leading thinkers and experts without needing to read full-length texts. Instaread caters to a diverse clientele, including professionals, students, and anyone interested in personal development and continuous learning, and is accessible through mobile applications and desktop platforms.Instaread generates revenue primarily through a subscription model, providing users with unlimited access to its extensive library of book summaries for a recurring fee. Customers subscribe directly to the service via the company’s mobile app or website, choosing from various subscription plans. This direct-to-consumer approach enhances user engagement and retention. While specific pricing details for individual subscription tiers are not disclosed, the service's model emphasizes value through its library of thousands of titles, including both contemporary and classic works. Instaread's partnerships with content creators and publishers further support its revenue structure, allowing the company to expand its offerings and maintain a competitive edge in the market.Instaread plans to utilize its recent SEED funding of USD 1.66 mn, raised in May 2016, to enhance its product offerings and drive growth. The company is developing new features aimed at improving user experience and engagement, with a focus on launching these enhancements in the next year. Additionally, Instaread is exploring expansion into international markets, targeting regions in Europe and Asia by 2024, to reach a wider audience and increase its subscriber base.

## Funding rounds

- Seed, May 5, 2016, $1.7M — Wavemaker Partners, Pear VC
- Seed, Sep 19, 2014 — Wavemaker Partners, Kima Ventures

## Investors

- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Seed
- Kima Ventures (https://capitalatlas.ai/funds/kima-ventures) — Seed
- Pear VC (https://capitalatlas.ai/funds/pear-vc) — Seed