TrayamBhu Tech Solutions, which runs blockchain solutions provider TRST01, on Tuesday said it has raised an undisclosed sum in a seed round led by US-based Octave Ventures and other unrevealed investors.
The investment marks debut for Octave Ventures in India.
The platform plans to use the fresh funds to build blockchain solutions in climate technology, such as environmental social governance (ESG), carbon credit, and carbon asset tokenization, as well as expanding the company’s operations globally.
Founded in 2020 by Prabir Mishra, Suraj Teja and Puru Modani, TRST01 is a multi-chain blockchain platform focused on climate tech, ESG, carbon credits mapping the sustainable data on blockchain. The firm claims to have over 15 customers with 30 employees operating in India.It also aims to roll out a portfolio of agriculture and food products that address trust, transparency and traceability. TRST01 also said that it is partnering with a state government on PDS traceability and has launched nine items in the market, including CSR contribution tracking, organic, residual-free, exotic fruit traceability, and mango traceability.
“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,” said Prabir Mishra, CEO of TRST01.
“Our vision is to become a one-stop solution provider for Trust, Transparency, and Traceability. Making Blockchain technology for all,” he added.
Blockchain-focused companies have garnered investor interest since early last year. In September, blockchain-tech enabler New Street Technologies raised $4 million funding from Vittal Kadapakkam and existing investors including Unitus Ventures and Mohit Davar, chairman of International Association of Money Transfer Network.
In August 2021, Arcana Network, a blockchain startup focused on decentralised storage and data privacy platform has raised 2.3 million (Rs 17 crore) in a round led by Republic Crypto and Woodstock Fund.
