Insurance-tech startup Ensuredit Technologies Pvt Ltd, which was co-founded by a former top executive of Motorola, said it has raised Rs 2.5 crore ($338,100) pre-Series A funding round.
The funding was led by startup incubator and accelerator Venture Catalysts, said Ensuredit in a statement.
Amit Boni, founder, and CEO, Ensuredit, said the company would use the fresh capital to expand its technology team and marketing. Boni held key positions in companies such as Motorola and Smartron before founding Ensuredit.
Ensuredit was founded last year by Boni, Rohit Sadhu, and Vikas Ranga. According to their LinkedIn profiles, Sadhu was previously a director at consultancy firm EY, and Ranga, an IIT Roorkee graduate, is a co-founder of docment.ai.
The startup says its application programming interface (API)-the integrated platform offers a range of services, including agent on-boarding, quote generation, and processing payments.
It also provides policy insurance comparison services, identifying cross-sell and upsell opportunities, and creating proposals. The platform helps brokers, corporate agents, insurance marketing firms, and insurers to boost their revenue.