US-based Octave Ventures makes first India Investment in Hyderabad-based blockchain tech firm
Premium- The Seed Funding Round was led by Octave Ventures, a US-based private equity firm
Hyderabad-based TrayamBhu Tech Solutions Pvt. Limited, a blockchain solutions provider, on Tuesday announced that it has raised around ₹4.2 crore (approx in excess of half a million dollars) in seed round from US-based Octave Ventures and others.
“The newly-injected funds will be invested in developing newer Blockchain products on climate tech covering ESG, Carbon Credit, and Tokenisation Carbon Assets, etc, and also to expand business operations in the USA and other emerging markets shortly," TrayamBhu (TRST01) said in a release.
Founded in 2020 by Prabir Mishra, Suraj Teja, and Puru Modani, TRST01 is a multichain blockchain platform working on Climate Tech, ESG, Carbon Credits mapping the last mile of sustainable data on the Blockchain. The company has launched portfolio of Agriculture and Food products.
TRST01 has developed a platform for prospecting Geographic Indicator (GI) product pigeon pea ( Tandur Dal) of Telangana State as part of its Blockchain initiative. The blockchain application for GIs brings value for GIs by improving communication with consumers and facilitating the support of sustainability goals.
“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," said Somya Chaudhary of Octave Ventures.
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Commenting on the development Prabir Mishra, CEO, TRST01 said, “Partnering with an experienced investor will help us to drive our mission to bring about the best use of emerging technologies to address industry pain points on trust, transparency, and traceability."
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