New Delhi, 30 September 2021: We Founder Circle (WFC) – a startup investment platform, in continuation to its mission to fund early-stage start-ups, has invested in Pre Series A round raised by CUSMAT. The 100K round is led by We Founder Circle along with other esteemed investors participation including Venture Catalyst, Better Inc., and Map My India.
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 Mr. Abhinav Ayan and Mr. Anirban Jyoti Chakravorty. The brand has exhibited splendid performance over the period and trained a workforce of more than 30,000 pan India.
CUSMAT 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.
On the Investment in Cusmat Mr. Neeraj Tyagi- Co-Founder and CEO, We Founder Circle said “Cusmat is a new age immersive reality training tool which has a 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. 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.”
“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 Mn people joining the industrial workforce across Mining, Infra, Logistics, Manufacturing, Pharma amongst others,” said Mr. Abhinav Ayan, Co-Founder and CEO CUSMAT.
The brand is planning to utilise the fresh funds in scaling enterprise sales team, developing Product Training Content, and developing industry driven features for the platform. The brand has raised USD 650K in total including the current round.