AI-Powered Comics Platform Dashtoon Seeks $10-12 Million in Series A Funding

Dashtoon, a rising star in the comic creation industry, is reportedly in advanced discussions to secure a fresh round of funding. This Series A financing, valued between $10-12 million, comes on the heels of a successful seed round in November 2023.

Building on Early Success with Established Investors

Sources familiar with the negotiations reveal that both new and existing investors are participating in the Series A round. Matrix Partners India and Stellaris Venture Partners, who spearheaded the seed funding, are expected to retain their involvement. This demonstrates confidence in Dashtoon’s innovative approach and early traction.

Empowering Storytellers with Generative AI

Founded in December 2022 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashtoon leverages the transformative power of Generative AI. Through its flagship product, Dashtoon Studio, the company empowers aspiring comic creators to turn their stories into visually stunning digital comics, bridging the gap between imagination and artistic execution.

Founders with Proven Track Records

The leadership team at Dashtoon boasts a wealth of experience. Narain and Gudipati were instrumental in building and growing Pocket FM, a prominent audio entertainment platform, particularly within the US market. Mukherjee brings expertise in scaling deep-tech teams and tackling complex challenges like cancer diagnosis through his work at Morphle Labs and other startups.

Expanding Opportunities for Creators and Readers

Dashtoon’s vision extends beyond creation tools. The platform also provides established authors and aspiring writers with a platform to distribute and monetize their graphic novels and comics, fostering a vibrant creator economy.

Deal Nearing Completion, Valuation on the Rise

Sources close to the negotiations suggest that the final terms are being finalized and the deal is expected to close within the next few weeks. Additionally, Dashtoon’s valuation is projected to reach the $50-60 million range during this Series A financing, reflecting the company’s immense potential.

Monetization Roadmap and Global Aspirations

Dashtoon initiated its monetization efforts in October 2023 and has ambitious growth plans. The company initially projected a revenue of $15,000 in the first month, with a strategic roadmap to reach $100,000 per month within the following two to three months. In the long run, Dashtoon aspires to become a global powerhouse in the intellectual property (IP) space for comics, fostering a thriving community of creators and readers around the world.

A Competitive Landscape with High Growth Potential

Currently, Japanese Manga and Korean Webtoons dominate the global comics market, which reached a value of $15.5 billion in 2022 and is expected to nearly double to $27 billion by 2032 according to Allied Market Research. Dashtoon’s innovative approach using AI technology positions them to disrupt this rapidly growing market.