[Funding alert] Upskilling platform Cusmat raises $100K in pre-Series A led by We Founder Circle
, a startup that builds high immersion training systems for enterprises, has raised $100,000 in pre Series A round led by We Founder Circle along with other esteemed investors participation including Venture Catalyst, Better Inc., and MapmyIndia.
Founded by Abhinav Ayan and Anirban Jyoti Chakravorty, Cusmat enables organisations to onboard, assess, train, upskill, plan learning tracks for the employees to maximise retention rates, and on the job performance by using its AR/VR, cloud-based learning management system.
According to the official statement, the startup is planning to utilise the funding in scaling enterprise sales team, developing product training content, and developing industry driven features for the platform. Cusmat has raised $650K in total including the current round.
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 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.”
The brand claims to have exhibited splendid performance over the period and trained a workforce of more than 30,000 pan India.
"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.