New Delhi, Nov 25 (PTI) Venture Catalysts on Wednesday said it has led a Rs 2.5 crore funding in insurance-tech startup Ensuredit.

"We intend to use the funding to hit our next growth curve by significantly expanding our technology team and outreach capabilities," Amit Boni, Founder and CEO of Ensuredit, said.

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Founded in 2019 by Amit Boni, Rohit Sadhu and Vikas Ranga, Ensuredit focuses on enhancing the sales force while enabling insurance players to onboard a greater number of insurance manufacturers and channel partners.

The market that the company is addressing is currently valued at USD 100 billion.

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**** *Unicorn India Ventures invests in Inntot Technologies

Kerala-based startup Inntot on Wednesday said it has raised funds from Unicorn India Ventures. Unicorn India had first seeded the company in 2018.

Inntot focuses on providing high quality and cost effective IP solutions for next generation digital media broadcast receivers.

"The company plans to use the funds to procure highly sophisticated and precision digital radio test equipment that is required for RF and timing performance testing for all the digital radio broadcast receiver standards...," a statement said.

The amount invested by Unicorn India Ventures was not disclosed. Inntot Technologies was set up in 2014 by Prasanth Thankappan and Rajith Nair.

**** *Magenta BI raises Rs 60 lakh in seed funding from angel investors  

Magenta BI, an Ahmedabad-based SaaS (software as a service) platform, on Wednesday said it has raised Rs 60 lakh in seed funding from several investors.

These investors include Santhosh G, Manoj Agrawal (CFO, HN Safal Group) and Sachin Chaturvedi (Promoter, Prarambh Group), a statement said.

"The investment will be used to grow the company's sales, marketing and engineering to expand its product offering. The funds are also planned to be used for expanding product offering and ramping up hiring efforts to build a larger team," it added.

Magenta BI was founded in 2018 by Vikas Mundhra and Vikalp Somani, and helps SMEs make data driven decisions through actionable analytics.  PTI SR

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