CUSMAT Raises $100,000 From We Founder Circle
The brand is planning to utilize the fresh funds in scaling enterprise sales team, developing product training content, and developing industry-driven features for the platform
Upskilling platform CUSMATon Thursday announced to have raised $100,000in pre-Series A round led by We Founder Circle along with other investors participation including Venture Catalyst, Better Inc., and Map My India.
The brand is planning to utilize the fresh funds in scaling the enterprise sales team, developing product training content, and developing industry-driven features for the platform.
"We have focused 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 chief executive officer, CUSMAT.
CUSMAT is an immersive skilling and training (skilling, up-skilling, re-skilling) platform for industries moving metrics across productivity, safety, and customer satisfaction. Founded by Abhinav Ayan and Anirban Jyoti Chakravorty. The brand has exhibited splendid performance over the period and trained a workforce of more than 30,000 pan India.
The startup enables organizations to onboard, assess, train, upskill, plan learning tracks for the employees to maximize retention rates, and on-the-job performance by using our AR/VR, cloud-based learning management system.
“CUSMAT is a new age immersive reality training tool which has a 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. And 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. There is a huge scope in the field of upskilling and reskilling in India. The prominent need for jobs has made it one of the hottest markets. And the scope has only widened after the pandemic as around 18 million Indians might need to switch occupations by 2030, as stated in recent reports. Given this market scenario, it will not be wrong to say that business models like CUSMAT are more relevant now than ever,” added Neeraj Tyagi, co-founder, and chief executive officer, We Founder Circle.
The brand has raised $650,000 in total including the current round.