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B2B Start-Up Cusmat Raises $3.5 Million In Series A Rund Led By Arkam Ventures

The fresh funds will be utilised to strengthen research and development and enterprise sales as well as to further enhance its presence in international markets

B2B Start-Up Cusmat Raises $3.5 Million In Series A Rund Led By Arkam Ventures

Outlook Start-Up Desk

POSTED ON February 08, 2023 4:11 PM

Bengaluru-based Cusmat, an immersive skilling platform, has raised $3.5 million in a Series A round of fundraising. 

The round is 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.

Cusmat's clientele includes companies such as ABB, Vedanta, Tata Steel Mining, DHL, DTDC, Dr Reddy's, Voltas, Schneider Electric, Toshiba Mitsubishi, Ultratech, and many more. The company has claimed to operate in the APAC and MEA regions along with India. 

The platform claims to leverage its proprietary physics simulation engine, embedded analytics engine, IoT and AI/ML to first assess and then up-skill on realistic digital twins of industrial facilities. Cusmat’s skilling metaverse platform does a better job of instilling the hard skills that are needed to be mastered by the industrial workforce, which cannot be easily assimilated through a pen & paper, video or in two dimensions.

Abhinav Ayan, Co-Founder and CEO of Cusmat, said, “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 have 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 research and development and Engineering will work in sync with our efforts in scaling up enterprise sales.”

Anirban Chakravorty, co-Founder and COO (chief operating officer) of Cusmat said, "Core industries like mining, manufacturing, pharmaceuticals and logistics typically see high attrition rates which cause discontinuity in peak productivity levels. Our goal has consistently remained to positively impact the top line and bottom line by improving the skill level of their operators and technicians. In the entire industrial setup of man, machine and materials, our high immersion skilling systems complemented with our robust analytics stack enables our customers to recruit, assess and perform better.” 

Speaking on the investment, Bala Srinivasa, managing director (MD), Arkam Ventures said, “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 a validation of business value.”
 

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