VC Fund Investments
Industrial skilling firm Cusmat raises $600-K led by Unitus Ventures
Cusmat, an Hyderabad-based immersive skilling and training platform for industries has raised USD 600,000 or INR 4.7 crore from Unitus Ventures and others. Unitus Ventures led the round with INR 3.75 crore followed by Dholakia Ventures and Fashion Fit LLP who invested INR 50 lakh and INR 25 lakh respectively. Malacca Ventures and Sujith Raphael also joined the round with INR 10 lakh each. Cusmat develops training simulators to train operators in different fields like mining, logistics, warehousing, healthcare and pharma by using its AR/VR, cloud-based learning management system. The company will issue 17,337 compulsory convertible preference shares (CCPS) to the investors at an issue price of INR 2,711 per share. Following the investment, Unitus Ventures holds a 3.80% stake in the company while its co-founders - Abhinav Ayan and Anirban Chakravorty - collectively wil own 7.33% stake. Cusmat's ESOPs pool stands at 9.10%.
Between Aug 20 and Sep 21, Cusmat had raised over INR 4 Cr from We Founder Circle. Venture Catalyst Angels, Better Inc, MapMyIndia and others.
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