The startup is helping educational institutions digitise their records free of cost
The funds will be utilised for product development and deployment
TheRollNumber was selected in the top 100 startups in MSINS MSW organised by the Govt. of Maharashtra
TheRollNumber, a platform that verifies, attests and issues blockchain-based credentials has closed a Pre-Seed funding round, led by India Accelerator, Artha Venture Fund and Rudraksh ventures.Founded in 2020 by Sai Raghavendra Sharma, Accelerated by India Accelerator and a DPIIT approved venture, TheRollNumber focuses on Digitisation 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% less time and 40% lower costs.The injected funds will be used for product development and deployment. The Govt. of India is bullish on Blockchain and its use cases, and TheRollNumber has already initiated its conversations with the respective departments.
India has close to 900+ universities and 30% of the universities do have proper infrastructure for digitisation and verification services. TheRollNumber is helping all the educational institutions digitise 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.
In a statement, Sai Raghavendra Sharma, Founder, TheRollNumber says, “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 decentralised system would benefit a lot in such sensitive areas.The Indian government has recognised the need for stronger technology-led interventions for the increasingly critical digitisation space.”
TheRollNumber was selected in the top 100 startups in MSINS MSW organised by the Govt. of Maharashtra in the space of Governance.
Mona Singh, Co-Founder of IA said, 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 companies fast revenue growth and strategic commitment to their product, we were determined to led this round into the startup .
To recall, in July, an another blockchain-based startup LegitDoc helped Maharashtra government to become the fourth government entity in the world to implement the world's largest blockchain-powered educational credentialing system by issuing nearly one million tamper-proof diploma certificates.
Anirudh A Damani, Managing Partner, Artha Venture Fund, said, "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", he added.
About Artha Venture Fund
Artha Venture Fund (AVF) is India's first early-stage micro-VC firm with a corpus of ₹225 crores. Since its inception in late 2018, AVF has primarily funded and supported multiple startups that operate as enablers and entities focused on solving the challenges of Indian consumers and businesses. The current fund makes thematic investment allocations for B2B, B2C/D2C, and D2C enablers.Led by Anirudh A Damani, a second-generation investor, the firm has a network of limited partners, co-investors, founders, and family offices that traverse the globe. AVF's portfolio includes Agnikul, LenDenClub, HobSpace, PiggyRide, Daalchini, Kabbadi Adda, and more.
AVF is part of Artha Group with investments in 85+ startups across India, the US, and Israel like OYO Rooms, Purplle, Tala, Coutloot, Karza Technologies, Mobilewalla, Interstellar and more. For more information, please visit www.artha.vc
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