AI-assisted comic creation platform Dashtoon is in advanced discussions to secure $10-12 million in a new funding round. This round involves both new and existing investors, including Matrix Partners India and Stellaris Venture Partners. Sources familiar with the matter have disclosed this information to Entrackr, noting that the deal terms have been agreed upon and are expected to finalize within a few weeks.
Dashtoon, which has offices in San Francisco, London, and Bengaluru, previously raised $5 million in a seed round in November 2023, led by Matrix and Stellaris with contributions from notable angel investors. Founded in December 2022 by Sanidhya Narain, Lalith Gudipati, and Soumyadeep Mukherjee, Dashtoon leverages Generative AI through its product, Dashtoon Studio, to transform storytellers into comic artists.
The founders bring significant experience to Dashtoon. Narain and Gudipati were part of the founding team of Pocket FM, an audio entertainment startup, while Mukherjee has a background in building deep-tech teams for startups, including working on cancer diagnosis solutions at Morphle Labs. Dashtoon’s platform enables both published authors and aspiring writers to distribute and monetize their comics and graphic novels.
In its initial phase, Dashtoon began monetizing in October 2023, generating $15,000 in revenue in its first month. The company aims to increase this to $100,000 per month within two to three months. Looking ahead, Dashtoon aspires to become a global intellectual property powerhouse by collaborating with thousands 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 projected to reach approximately $27 billion by 2032, according to Allied Market Research. Dashtoon aims to capitalize on this growth, positioning itself as a major player in the industry.