Cusmat, an immersive skilling platform that enterprises use to upskill their industrial workforce, has raised $3.5 million in Series A round of fundraise.
This round is led by Arkam Ventures along with participation from Unitus, Better Capital, Venture Catalysts, MapMyIndia, 9 Unicorns, We Founder Circle, Mumbai Angels Network, Dholakia Ventures, Ice VC, and Legacy asset LLP.
Cusmat plans to utilise the fresh funds to strengthen R&D and enterprise sales, besides growing its international presence and adding newer industry-specific skills to its offering.
Abhinav Ayan, Co-Founder & CEO, Cusmat, said, “The metaverse is the ideal environment to develop muscle memory for real-world activities. The initial traction and great feedback from large enterprises in India and South Asia have convinced us of the product market fit for our skilling metaverse platform.”
While the technology platform is ready for wide-scale adoption and is backed by strong large enterprise references, our continued investment in product research and development (R&D) and engineering will work in sync with our efforts in scaling up enterprise sales, he added.
Cusmat is an immersive skilling platform leveraged by large enterprises. Its clientele includes companies such as ABB, Vedanta, Tata Steel Mining, DHL, DTDC, Dr Reddy’s, Voltas, Schneider Electric, Toshiba Mitsubishi and Ultratech. Besides India, Cusmat operates in other countries in the APAC and MEA regions.
The Cusmat platform leverages its proprietary physics simulation engine (capable of recreating Industrial facilities, equipment, and processes to a degree of detail), embedded analytics engine, IoT and AI/ML to first assess and then up-skill on realistic digital twins of industrial facilities. Cusmat says its skilling metaverse platform does a better job of instilling the hard skills that are needed to be mastered by the industrial workforce, which cannot be easily assimilated through a pen and paper, video, or in two dimensions.