Get All Access for $5/mo

Cusmat Raises $3.5 Million In Series A Funding The company plans to utilise the fresh funds to strengthen R&D and enterprise sales, besides growing their international presence, and adding newer industry-specific skills to their offering

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Cusmat, an immersive skilling platform that enterprises use to upskill their industrial workforce, has raised $3.5 million in Series A funding round led by Arkam Ventures along with participation from Unitus, Better Capital, Venture Catalysts, MapMyIndia, 9 Unicorns, We Founder Circle, Mumbai Angels Network, Dholakia Ventures, Ice VC, and Legacy asset LLP. The company plans to utilise the fresh funds to strengthen R&D and enterprise sales, besides growing their international presence, and adding newer industry-specific skills to their offering.

"The metaverse is the ideal environment to develop muscle memory for real-world activities. The initial traction and great feedback from large enterprises in India and South Asia has convinced us of the product market fit for our skilling metaverse platform. While the technology platform is ready for wide-scale adoption and is backed by strong large enterprise references, our continued investment in product R&D and Engineering will work in sync with our efforts in scaling up enterprise sales," said Abhinav Ayan, co-founder and CEO, Cusmat.

Cusmat's experience with industrial brands in India and in some South Asian markets has shown that the 'skilled via the Metaverse' workforce is 30% more productive, 25% more efficient, and 70% safer than their peers. Furthermore, the retention rate for those 'skilled on the metaverse' is very high, hovering at 70% on an average, claimed by the company in a statement.

"Industrial workers in sectors like mining, pharma, logistics, steel operate complex and high-cost machinery that directly impacts top line and efficiency. Cusmat's VR based industrial skilling software is a game changer that dramatically improves worker productivity and reduces training time from months to days. We were impressed by customer love for this product and also validation of business value," said Bala Srinivasa, managing director, Arkam Ventures.

Cusmat is the first immersive skilling platform with real-world application that has helped industries close the skills gap and improve crucial business metrics that have a positive influence on both the top and bottom lines as well as employee morale.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Taylor Swift Has a Lucky Number. And She's Not the Only High Performer Who Leans Into Superstitions to Boost Confidence.

Even megastars like Swift need a little extra something to get them in the right mindset when it is game time.

Business News

How to Be a Billionaire By 25, According to a College Dropout Turned CEO Worth $1.6 Billion

Austin Russell became the world's youngest self-made billionaire in 2020 at age 25.

Making a Change

9 Motivational Quotes from Serena Williams

Serena Williams' historic win at Wimbledon on Saturday left the world in awe of her talent. Here's how she keeps her mental game sharp on and off the court.


12 Upbeat Ellen DeGeneres Quotes to Put You in a Good Mood

In a funk? Some quotes from comedian and TV personality Ellen DeGeneres can turn your day around.


How College Prepares Your Child For Success With This One Quintessential Trait

College may not guarantee success or a job in your chosen field, but it might be the ideal place for your child to learn independence — a trait necessary for success.


SEO Trends You Need to Be Aware of Right Now, According to a Seasoned Pro

Navigate the future of search engine optimization to elevate your online presence and drive meaningful engagement.