Madrid-based AI writing tool startup, Correcto, secures $7M in seed funding

Madrid-based startup Correcto has raised $7 million in seed funding for its AI writing tool designed for Spanish speakers. The company was founded in 2021 and aims to provide a Grammarly-style auto-editing tool for correcting written Spanish. The founders, who have studied and worked abroad, realized there was a lack of similar tools available for Spanish grammar and syntax. While the rise of generative AI tools like ChatGPT may pose a threat to auto-editing tools, Correcto believes that the quality of Spanish texts generated by these tools is not up to par. The startup also focuses on providing a real-time auto-editing interface that supports individual learning. With over 120,000 downloads to date, Correcto hopes to tap into the large addressable market of native Spanish speakers, especially in Latin America.