Hyderabad-based TrayamBhu Tech Solutions(TRST01) Secures Seed Funding From Octave Ventures
2 years ago Rituka M- TRST01 secured INR 4.2 crores in Seed Funding Round led by Octave Ventures, a US based private equity firm.
- The Company plans to use the funds towards expansion and platform capability.
Taking Off With A Seed Funding Round
Recently, on 7th February 2022, the Hyderabad-based TRST01 announced having raised INR 4.2 crores in a seed funding round. This round was led by Octave Ventures and others. This is Octave’s first investment in India. Octave is a US-based venture capital investor with a particular focus on deep tech and biotechnology.
TRST01 intends to inject these funds towards developing newer Blockchain products on climate tech covering ESG, Carbon Credit, & Tokenisation Carbon Assets. Additionally, they also aim to extend the business operations to the USA and other emerging markets.
Prabir Mishra, CEO of TRST01 expressed, “We have been successfully disrupting the space through our proprietary multichain blockchain platform. We have been clocking impressive year-on-year growth across our extensive product suite.”
Speaking on the investment, he added, “This investment is a fantastic endorsement from an international partner and comes at an opportune time. Eager to capture a larger share of expanding blockchain market, partnering with an experienced investor will help us drive our mission. Our vision is to become a one-stop solution provider for Trust, Transparency, and Traceability. Making Blockchain technology for all.”
Mrs. Somya Chaudhary of Octave Ventures added; “With our first tech investment in India, we are excited to be a part of TRST01’s journey and support them in their mission. India is emerging as one of the world’s most innovative blockchain tech solutions providers.”
Background
TrayamBhu Tech Solutions Private Limited also known as TRST01 is a multichain blockchain platform that uses emerging technologies. Hyderabad-based TrayamBhu Tech Solutions addresses industry pain points with respect to Trust, Transparency, and Traceability.
TRST01’s platform creates technological dominance among products and services to address challenges in the New Normal. Moreover, the platform also caters to Industries 4.0 and helps them with Digital Transformation. The Hyderabad-based startup aims to deliver blockchain solutions that conform to the current requirements of businesses.
Emphasizing largely on Trust, Transparency, and Traceability, TRST01 intends to reduce risk across the value chain and create impact-driven solutions for customers. Being a multichain blockchain platform, they primarily work on Climate Tech, ESG, and Carbon Credits, attempting to create a sustainable future.
Blockchain and TRST01’s Inception
Founded in 2020 by Prabir Mishra, Suraj Teja, and Puru Modani, TRST01 has over fifteen customers with thirty employees with its headquarters in Hyderabad. Blockchain technology is booming in the business ecosystem for being decentralized, immutable, and secure. This makes it a natural fit for Geographical Indications (GIs) because GIs are authentic, qualitative, and original. Within a year of establishment, TRST01 has partnered with several state governments on PDS traceability. Additionally, as a part of their Blockchain Initiative, TRST01 has developed a platform for prospecting GI product pigeon pea (Tandur Dal) of Telangana.
Further, the company is part of the 1st Cohort of CoE for Blockchain STPI, Gurgaon, and the cohort of Ag-Hub Agri Innovation Hub of PJTSAU, Hyderabad Telangana. TRST01 has further brought forward nine cohesive products in the marketplace. These include CSR donation Tracking, Organic, residual-free, exotic fruits, and Mango Traceability.
Over the last two years, the demand for Blockchain-as-a-Service (B-a-a-S) has increased sporadically due to the sudden shift to digital. Additionally, B-a-a-S has also emerged as an ideal solution for SMEs to safeguard their digital entities & secure authentication.
