Private Equity

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B2B skilling co Cusmat attracts $3.5 M from Arkam Ventures, Unitus, Better Capital, others

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Bengaluru-based B2B skilling service company Cusmat has attracted USD 3.5 million in a Series A funding round led by Arkam Ventures. Unitus, Better Capital, Venture Catalysts, MapMyIndia, 9Unicorns, We Founder Circle, Mumbai Angels Network, Dholakia Ventures, Ice VC and Legacy asset LLP also participated in the funding round. Including the current fundraising, the startup has raised USD 4.2 million to date. Cusmat plans to use the fresh capital to strengthen its research and development (R&D) activities and enterprise sales. It will also utilise funds to expand its geographical presence and add new offerings to its existing product suite. Founded in 2016 by Abhinav Ayan, Soumyaranjan Harichandan and Anirban Jyoti Chakravorty, Cusmat enables companies to onboard, assess, train, upskill and track the learning progress of employees. It claims to help companies maximise retention rates and on-job performance training via its augmented reality and cloud-based learning management system. The startup counts ABB, Vedanta, Tata Steel Mining, DHL, DTDC, Dr. Reddy's, Voltas, and Schneider Electric among its clients.

From the Venture Intelligence PE-VC Deal Database: In Sep-2022, Cusmat had raised less than USD 1 M from Unitus Ventures, Dholakia Ventures, Fashion Fit LLP, Malacca Ventures and Sujith Raphael.