CUSMAT, a startup that builds high immersion training systems for enterprises, announced that it has raised an undisclosed amount of funding from Venture Catalysts.
The funding round was led by Venture Catalysts investor — Raveen Sastry of Multiply Ventures, and also saw participation from Vaibhav Domkundwar, Better Capital; Rakesh Verma, Chairman, MapMyIndia; and Pratap Atwal, Director, CIPL.
Founded in 2016 by Abhinav Ayan, Anirban Jyoti Chakravorty, and Soumyaranjan Harichandan, CUSMAT builds Virtual reality/Mixed Reality based Real time Communication and Simulation systems to skill, upskill, train and assess people in enterprises.
The company currently offers five training products, catering to more than 15 industries including logistics, electronics, manufacturing, mining, steel, cement, pharmaceutical, and healthcare.
Speaking about the investment, Abhinav Ayan, CEO, CUSMAT, said, “Our scalable, cloud-linked, LMS Integrated platform enables enterprise of all sizes to — standardise training processes across setups, locations, plants with capabilities to track, compare and visualise skill specific workforce competency levels, and subsequently develop learning track plans for individuals, based on their current competency levels and organisational needs. We are motivated with the industry feedback and are looking to capitalise on this large opportunity with the support of our investors, advisors and partners.”
Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts in a statement said, “CUSMAT is a first-of-its-kind company that is harnessing the power of XR and robotics analytics to upskill, train and assess employees for multiple daily production and high level emergency and accident scenarios. Their marquee products have already garnered significant traction and the company is well-positioned to take the lead in the market.”
“Besides product innovation, we are also impressed by the technical expertise shown by the team. We are confident that CUSMAT will utilise the funding to reach new heights and carve a niche for themselves,” he added.
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