TrayamBhu Tech Solutions (TRST01), a leading provider of blockchain solutions, has secured an undisclosed 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 Tokenization Carbon Assets, etc, and also to expand business operations in the USA and other emerging markets shortly,” the statement said.
“Apart from market expansion, the firm is also moving aggressively on its hiring spree. It is planning to expand its team by hiring fifty new resources by the end of 2022,” it added.
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 a strong portfolio of Agriculture and Food products that address trust, transparency, and Traceability.
Within a year of launching, TRST01 is working with a couple of state governments on PDS traceability. In addition, 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.
The company has brought forward nine cohesive products in the marketplace, including CSR donation Tracking, Organic, residual-free, exotic fruits, and Mango Traceability
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.
Commenting on the development, Prabir Mishra, CEO, TRST01 said, “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. This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture a larger share of the expanding blockchain enterprise market.”
“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. Our vision is to become a one-stop solution provider for Trust, Transparency, and Traceability. Making Blockchain technology for all,” Mishra added.
Commenting on this development, Somya Chaudhary of Octave Ventures said, “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.”