B2B skilling service startup Cusmat raised $3.5 million in Series A funds led by Arkam Ventures where Unitus, Better Capital, Venture Catalysts, MapMyIndia, 9Unicorns, We Founder Circle, Mumbai Angels Network, Dholakia Ventures, Ice VC and Legacy asset LLP also participated.
Cusmat runs a platform for skilling and training. It enables businesses to onboard, assess, train, upskill, and track employees’ learning progress. The new funds will be used to expand the startup’s research and development (R&D) activities and enterprise sales. Aside from that, the funds will be used to expand the startup’s geographical presence and add new offerings to its existing product suite. Cusmat’s augmented reality, cloud-based learning management system aims to assist businesses in increasing retention rates and on-the-job performance training. According to an IndustryArc report, the country’s corporate training industry is anticipated to become a $414 Bn mark by 2026. The market is likely to grow at a CAGR of more than 5.1% during the forecast period (2026).