Hyderabad: TrayamBhu raises seed fund from Octave Ventures

Hyderabad: Hyderabad-based blockchain solutions provider TRST01 (TrayamBhu Tech Solutions Pvt Ltd) has raised an undisclosed seed round from US-based Octave Ventures and others on Tuesday. The company plans to invest the newly-injected funds in developing newer blockchain products on climate tech covering ESG (environmental, social and governance), carbon credit and tokenisation carbon assets.

Apart from expansion of business operations in the US and other emerging markets, 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 this year. Currently, it has thirty employees with operations in India. The company has launched a strong portfolio of agriculture and food products that address trust, transparency and traceability.

Founded in 2020 by Prabir Mishra, Suraj Teja and Puru Modani, TRST01 is a multichain platform working on mapping the last mile of sustainable data on the blockchain. The global blockchain market size is projected to reach $104.19 billion by 2028, exhibiting at a compound annual growth rate (CAGR) of 55.8 per cent in the forecast period.