Hyderabad headquartered Cusmat Technologies, which provides high immersion training systems for enterprises, has secured an undisclosed amount in a seed funding round led by incubator Venture Catalysts.
Vaibhav Domkundwar, CEO and founder of Better Capital; Rakesh Verma, chairman at MapMyIndia; Pratap Atwal, director, of CIPL (coronation mining and infrastructure), also chipped in, according to a statement.
Founded in 2016 by NIT Warangal graduates Abhinav Ayan, Anirban Jyoti Chakravorty and Soumyaranjan Harichandan, Cusmat leverages augmented reality/virtual reality/mixed reality (AR/VR/MR) and artificial intelligence (AI)-based technologies to skill, upskill, train and assess people.
The startup currently offers products to 15 industries including logistics, electronics, manufacturing, mining, and pharmaceutical among others.
According to Ayan, Cusmat’s products help enterprises to standardise training processes across setups and develop learning tracks for workers.
Set up in 2016 by Sharma, Anil Jain, Anuj Golecha and Gaurav Jain, Venture Catalysts invests $250,000 – $1.5 million in early-stage startups.
“Cusmat is a first-of-its-kind company that is harnessing the power of extended reality (XR) and robotics analytics to upskill, train, and assess employees for multiple daily production and high-level emergency and accident scenarios,” Apoorv Ranjan Sharma, president and co-founder, Venture Catalysts said.
Venture Catalyst has backed about 19 companies so far in 2020. Some of the investments include industrial robotics startup Peppermint, short video-based job search platform MyKaam, refreshment aggregator platform for office goers F5, and electronics retail platform GabbarDeals.