Tuesday, 08 February 2022: TRST01 (TrayamBhu Tech Solutions Pvt. Limited) a leading provider of blockchain solutions, today announced it has raised 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 Tokenisation Carbon Assets, etc, and also to expand business operations in the USA and other emerging markets shortly.
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 end of 2022
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 firm has over Fifteen customers with thirty employees with operations in India. The company has launched a strong portfolio of Agriculture and Food products that address trust, transparency, and Traceability.
The global blockchain market size is projected to reach USD 104.19 Billion by 2028, exhibiting at a CAGR of 55.8% in the forecast period.
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 Mr. 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 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.
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.”
In recent times, demand for cloud-based services has increased dramatically. Moreover, the pandemic acted as a catalyst in creating even more new opportunities for this technology. Additionally, B-a-a-S has also emerged as an ideal solution to cater to the demand of small and medium-sized enterprises (SMEs). SME’s are using this service to safeguard their digital entities and authenticate human identities, increasing demand for B-a-a-S products. The aforementioned factors are expected to fuel the market growth during the forecast period.
