30.09.2021 – Bengaluru-based, CUSMAT, immersive training and assessment platform announced that it raised USD 100k in its pre-Series A round. This funding round was led by We Founders Circle.
This pre-Series A round was participated by Better Inc., MapmyIndia and Venture Catalyst. Till now CUSMAT has raised 650K in funds, total.
Utilization of the raised capital – In an official statement done by the startup, it mentioned that the raised capital will be utilized in scaling enterprise sales teams, developing industry-driven features for the platform.
Words from the investors –
On the investment in Cusmat, Neeraj Tyagi, Co-founder and CEO, We Founder Circle, said,
“Cusmat is a new-age immersive reality training tool, which has the potential to unleash the finest trend in the upskilling industry. Given the fact that in the post-pandemic era, around 18 million Indians might need to switch occupations by 2030, the market holds a huge scope.
Cusmat comes with a wide portfolio of use cases from manufacturing to healthcare, supply chain to education, and more. All this makes Cusmat an exciting startup growing rapidly, and hence a very good investment opportunity for angel investors.”
About CUSMAT –
Cusmat was initiated by Abhinav Ayan and Anirban Jyoti Chakravorty. It is an immersive training and assessment platform for enterprises. It lets the organisations onboard, train, assess, upskill, train, plan learning tracks for the employees to maximise the rates of retention. It also allows them to increase their job performance by using AR/VR and cloud-based learning management systems.
The brand claims to have exhibited splendid performance over the period and trained a workforce of more than 30,000 pan India. Cusmat also lets track, compare and visualize specific skills for workforce competency levels and also by standardizing training processes across location, setups and plans.
Words from the co-founders –
“We have focussed on finding the right product market fit over the last 10 months through our seed round. Going forward, the focus is on scaling by pursuing high growth opportunities identified with strong metrics of improvement that we have been able to establish for our customers. Through our XR Industrial Learning platform we have a chance to impact the Indian Industrial Productivity Index by unlocking the Human Capability of the 1.2 million people joining the industrial workforce across mining, infra, logistics, manufacturing, pharma amongst others,” said Abhinav Ayan, Co-founder and CEO, Cusmat.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
