TrayamBhu Tech Solutions (TRST01), a Hyderabad-based tech company, has successfully secured seed funding from Octave Ventures. This investment will support TrayamBhu in advancing its innovative solutions and expanding its operations.
TRST01 Secures INR 4.2 Crores in Seed Funding Round Led by Octave Ventures
Hyderabad-based TrayamBhu Tech Solutions (TRST01) has raised INR 4.2 crores in a seed funding round led by US-based private equity firm Octave Ventures. This marks Octave Ventures’ first investment in India. The company plans to use the funding to expand its operations and enhance its platform capabilities.
Seed Funding Round Highlights
On February 7, 2022, TRST01 announced its successful seed funding round, with Octave Ventures spearheading the investment. This funding will support the development of new blockchain products focused on climate technology, including ESG, carbon credits, and tokenization of carbon assets. Additionally, TRST01 aims to extend its business operations to the USA and other emerging markets.
Statements on the Investment
Prabir Mishra, CEO of TRST01, remarked, “We are disrupting the industry with our proprietary multichain blockchain platform, achieving impressive year-on-year growth across our product suite. This investment is a significant endorsement from an international partner and arrives at a pivotal time. With this support, we aim to capture a larger share of the expanding blockchain market and drive our mission of providing Trust, Transparency, and Traceability through blockchain technology.”
Mrs. Somya Chaudhary from Octave Ventures added, “We are thrilled to be part of TRST01’s journey with our first tech investment in India. India is becoming a major player in blockchain technology, and we are excited to support TRST01’s innovative solutions.”
About TRST01
Founded in 2020 by Prabir Mishra, Suraj Teja, and Puru Modani, TrayamBhu Tech Solutions, or TRST01, is a multichain blockchain platform addressing industry challenges related to Trust, Transparency, and Traceability. The company focuses on Climate Tech, ESG, and Carbon Credits, aiming to create a sustainable future through its blockchain solutions.
TRST01’s platform supports industries 4.0 and digital transformation, catering to the evolving needs of businesses. The company has over fifteen customers and thirty employees and is involved in several state government partnerships for PDS traceability. Notable projects include the blockchain initiative for Geographical Indications (GI) products like Tandur Dal from Telangana.
Future Prospects
As demand for Blockchain-as-a-Service (BaaS) grows, TRST01 is well-positioned to offer secure and innovative solutions for SMEs and digital entities. The company continues to expand its offerings, including CSR donation tracking and traceability for various agricultural products.