Inntot Technologies Pvt Ltd, a firm focussed on digital media broadcast, has raised an undisclosed sum as part of a bridge funding round from existing investor Unicorn India Ventures.
Unicorn had initially invested in Kochi-based Inntot in June 2018 as part of the company’s seed round. At the time, the bet marked the venture firm’s sixth investment in Kerala’s startup ecosystem.
The company was set up in 2014 by Rajith Nair, who is chief executive officer, and Prasanth Thankappan, chief technology officer. It develops and provides digital media broadcast receiver solutions around the world.
These products cover standards used in several countries, including DRM, DAB and DAB+, HD-Radio, and CDR.
In a statement, the Kochi-based startup said it will use the capital it has raised to procure digital radio test equipment required for radio frequency and timing performance testing for digital broadcast radio receiver standards.
Nair said the investment was proof of the validity of Inntot’s business and technology model, adding that it would also add to the company’s future growth plans.
“We have extended this additional funding so that they can develop more IPs (intellectual properties) and scale up faster. It is the only company in India which can serve multiple bandwidths across different markets,” Unicorn India managing partner Anil Joshi said.
This investment comes after Unicorn India Ventures founder and managing partner Bhaskar Majumdar in a recent podcast with VCCircle said that the firm was in an advanced stage of closing three more deals in a couple of months.
The firm launched its debut fund in November 2017. It also launched a cross-border fund in 2018 for backing UK-based startups looking to enter India.
The firm is currently investing out of its second fund. Its recent bets include insurance-technology startup Fedo, impact-focussed Genrobotics, IoT-based smart grid automation startup Probus Smart Things, and blockchain-based chit fund management platform ChitMonks.