Correcto secures $7 million to develop its ‘Grammarly for Spanish’
Madrid-based startup Correcto has raised $7 million in seed funding, driven by the increasing interest in generative AI. Octopus Ventures in London, with contributions from Carya Venture Partners and River Park Ventures, led this funding round.
Abraham López Lee and Ignacio Prieto Mayorga are the founders of Correcto. After studying and working abroad, they wanted to create a tool similar to Grammarly to correct written Spanish. Despite the popularity of generative AI tools like ChatGPT, the co-founders saw a lack of similar tools for Spanish grammar and syntax. This realization prompted them to develop Correcto.
Initially, Correcto developed its tool using rules-based natural language processing and a proprietary Spanish phrase database, providing Grammarly-style auto-editing features for grammar and style in Spanish. They experimented with demand through a Chrome extension and introduced a freemium web app.
Correcto differentiates itself by giving “augmented intelligence” rather than planning to replace human effort. The platform aims to enable users to improve their writing while preserving personalization and the human touch. The co-founders see a substantial market in Latin America, especially for individuals not confidently proficient in professional writing. They aim to be a unicorn startup focused on Spanish writing.
Correcto, focusing on improving writing for Spanish speakers, acknowledges the competition from the AI giant. But prefers a user-centric approach to provide a solution rather than directly competing with large language models (LLMs). They plan to focus on giving people a solution and align with user needs. The recent $7 million seed funding will fuel AI and product development. It will also focus on language nuance and utility for Spanish speakers.
