The early stage VC fund Unicorn India Ventures has invested in Kerala-based Software Defined Radio Startup Inntot. It is a seed-funding round, which marks Unicorn India as the first institutional investor in Inntot.
The funds raised in this round will be used for procuring hi-tech testing equipment, enhanced marketing efforts, solution field testing and hiring key personnel in critical functions like marketing, sales, and software.
Anil Joshi, Managing Partner, Unicorn India Ventures, says, “Investment in Inntot is inspired by the success that we have seen in new age tech startups who are not chasing the tempting matrix but building a product from ground up and opening up a completely new market for themselves rather fighting for a small piece of a big pie.”
Founded in 2014 by Rajith Nair and Prasanth Thankappan, Inntot Technologies is a technology-driven company with a prime focus on enabling cost-effective next-generation digital media receivers. It has Software enabled IP Solutions for Digital Radio Mondiale (DRM and DRM+) Receivers, DAB/DAB+ Receivers, ISDB-T Digital Television. The startup has already sold first SDR license to Telechips Inc, a South Korean company that sells system on chip products used in automotive entertainment systems and consumer electronics. Due to Inntot’s competitiveness, its solution is now being considered by OEMs and ODMs in Asia for their future Digital Radio Receivers, which indicates at a healthy pipeline of potential clients for the company.
Inntot typically charges an upfront licensing fee from OEMs along with a royalty per piece sold of radio with its solution loaded onto it.
Rajith Nair, Co-founder and Managing Director, Inntot Technologies, says, “Our mission is to facilitate a seamless switchover from Analog Radio Broadcast (AM and FM) to Digital Radio Broadcast by providing high quality and cost effective Digital Radio Receiver solution that enables mass acceptance. Collaboration of Inntot with a technology savvy investor like Unicorn India, who shares our view, will accelerate our mission. ”
Inntot is the only company in India today working on SDR based end to end digital radio receiver software stack that could make digital receiving solutions for home and car audio affordable. The Company pegs the demand at close to 7.5 million for such devices over the next three years in India and Asia alone.