Tech startup harness the power of AR/VR/MR and AI-based technologies to upskill, train and assess employees for multiple verticals
New Delhi: India’s largest integrated incubator and accelerator platform – Venture Catalysts – has invested an undisclosed amount in Cusmat startup in a bid to make training accessible, fun and efficient for enterprises.
Cusmat leverages AR/VR/MR and AI-based technologies 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, among others.
The seed funding round was led by Venture Catalysts investor – Raveen Sastry of Multiply Ventures. Co-investors Vaibhav Domkundwar, Better Capital, Rakesh Verma Chairman, MapMyIndia, Pratap Atwal, Director, CIPL (coronation Mining & Infra) also participated in the fundraiser.
Dr. Apoorv Ranjan Sharma, President and Co-founder of Venture Catalysts, said that 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 productions 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 utilize the funding to reach new heights and carve a niche for themselves,” he said.
Raveen Sastry of Multiply Ventures, a seasoned entrepreneur turned angel investor, said that AR/VR is at an inflection point where it can be used very effectively for multiple use cases.
Speaking on the fundraise, Abhinav Ayan, CEO of 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.”