selfpublishing

The startup’s eponymous app lets people self-publish stories, and then, using AI and data science, it selects what it believes are the most compelling of these to tweak and subsequently distribute and sell on a second app, Galatea. The $37 million, a Series C, is being led by Vinod Khosla of Khosla Ventures. The investment brings the total raised by Inkitt to date to $117 million (other rounds included a $3.9 million seed; a $16 million Series A and a $59 million Series B). The average number of books read (and completed) has also dropped to around 5. “Inkitt is doing just that with stories, creating content that is hyper-personalized and meaningful to every person.”