**The Generative AI Boom Boosts Madrid-based Startup Correcto with $7 Million in Seed Funding**
Madrid-based language writing tool startup, Correcto, is celebrating after securing $7 million in seed funding. The startup, which focuses on Spanish speakers, is developing an auto-editing tool for correcting written Spanish. The funding round was led by London-based Octopus Ventures, with contributions from Carya Venture Partners and River Park Ventures.
The founders of Correcto, Abraham López Lee and Ignacio Prieto Mayorga, were inspired to create the tool after studying and working abroad, where they used tech tools like Grammarly to improve their English writing skills. However, they were surprised to find that there weren’t comparable tools available for correcting Spanish grammar and syntax.
Alongside their technical co-founder, CTO Antonio Triguero Noriega, they set out to build an MVP (minimum viable product). The initial version of Correcto used rules-based natural language processing and a proprietary database of Spanish phrases to power auto-editing features, focusing on grammar and style. They first launched a Chrome extension to test demand, and later released a freemium web app, which has seen 120,000 downloads to date.
The rise of generative AI tools, such as OpenAI’s ChatGPT and Anthropic’s Claude, has changed the landscape for AI writing tools. These large language models (LLMs) can generate written texts in a variety of languages, including Spanish. However, Correcto’s founders believe that the quality of Spanish texts produced by LLMs trained on English inputs is not optimal, often sounding like how a child would write. This is why they are confident that there is still a need for auto-editing tools like Correcto.
Correcto positions itself as a tool that provides “augmented intelligence” rather than artificial intelligence. The founders believe in supporting users to improve their writing skills through a real-time auto-editing interface, which offers ongoing feedback. They argue that simply relying on LLMs to generate text for users eliminates the opportunity for individual learning. Correcto aims to empower users to write better, while preserving their personal touch and writing style.
As the market for AI writing tools continues to grow, Correcto is working towards selling their software-as-a-service (SaaS) solution to enterprises, while also maintaining a freemium version for individual users. They believe that their focus on the personalization and voice of their users’ writing will differentiate them from competitors and attract a large user base.
The startup sees great potential in the Latin American market, where native Spanish speakers may lack the confidence to write professionally in their mother tongue. Currently, the top five countries for Correcto usage are Colombia, Mexico, Argentina, Spain, and the United States. Their initial target customers for paid versions of the product are professionals in editorial, communications, and marketing.
Correcto’s founders are optimistic about the future, as they believe the AI boom has created a demand for AI writing support. They aim to be at the forefront of this wave by providing a comprehensive solution for Spanish-language writing. With the large addressable market of native Spanish speakers, Correcto has the opportunity to become the leading Spanish-focused writing tool startup and even the first unicorn in this space.
