TheRollNumber Raises Pre-Seed Round Led By India Accelerator, Artha Venture Fund And Rudraksh ventures The funds will be utilized for product development and deployment
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TheRollNumber, a platform that verifies, attests, and issues blockchain-based credentials, on Monday announced to have closed an undisclosed amount in pre-Seed funding round, led by India Accelerator (IA), Artha Venture Fund, and Rudraksh ventures.
The injected funds will be used for product development and deployment. The Govt. of India is bullish on Blockchain and its use cases, and the platform has already initiated its conversations with the respective departments.
"India's credential system is extremely sensitive and fragmented area. We believe blockchain could bring a huge impact and help reduce the fake and fraudulent credentials circulating in the market. Bringing a decentralized system would benefit a lot in such sensitive areas. The Indian government has recognized the need for stronger technology-led interventions for the increasingly critical digitization space," said Sai Raghavendra Sharma, founder, TheRollNumber.
Founded in 2020 by Sai Raghavendra Sharma, accelerated by India Accelerator and a DPIIT approved venture, TheRollNumber focuses on digitization of records not restricted to education degrees/graduation certificates but also extended to employment, birth certificates, and many more also providing background verification service for employers in 60 per cent less time and 40 per cent lower costs.
"We are elated to invest in The RollNumber as the blockchain segment has erupted the tech industry and comping up with the new innovations. After witnessing the company's fast revenue growth and strategic commitment to their product, we were determined to led this round into the startup," shared Mona Singh, co-founder, IA.
"This our first investment from the Artha Access program. The program focuses on the pre-seed funding segment through associations with various accelerator programs. We are thrilled with this partnership, and we look forward to supporting more investments through established accelerators like India Accelerator. The physical restrictions over the past 18 months have created barriers for effective background screening of candidates. The team at TheRollNumber removes these barriers with their cost-friendly proposition providing significant time-saving. This funding round fits well into our investment ethos of solving a real human problem by leveraging cutting-edge technology," added Anirudh A Damani, managing partner, Artha Venture Fund.
India has close to 900 universities and 30 per cent of the universities do have proper infrastructure for digitization and verification services. TheRollNumber is helping all the educational institutions digitize their records free of cost and is placing them on TheRollNumber's blockchain network. The blockchain startup is bringing India's first credential tracking system which helps individuals control their data and make them understand the value of data.
