SucSEED backs TruScholar, a Blockchain startup in EdTech Space!!
TruScholar is a blockchain-based credential management platform that lets universities, institutes/edtech firms, online learning platforms, event organisers and corporates to issue secured, immutable and verifiable digital certificates and digital badges. TruScholar has secured an undisclosed Capital in Fund raise, led by Hyderabad headquartered SucSEED Indovation Fund, a DeepTech oriented early-stage fund. Other Angel Investors from Padup Ventures, Vinners Group and TiE Angel community have joined the investment round as well.
With the seed round, TruScholar enables opportunities for scaling up their product development, marketing and sales initiatives.
TruScholar facilitate the issuance of credentials in Digital Format along with its storage and verification process. These records are immutable and are encrypted on the platform built on Blockchain technology, and hence assured legitimacy of the record will be an inbuilt feature. It offers a digitally accessible wallet on an annual subscription basis where all the various certificates and credentials are stored and accessible to the user. These can also include identity based credentials like Aadhar, Birth Certificate as well as Health records etc.
TruScholar have boarded 140+ top educational institutions, universities, event organizers, ed-tech/e-learning and corporates in the country, who are using them consistently for issuance and verification of certificates and
badges, since Aug 2021. As a result, they have issued over 25,000 digital certificates and successfully verified and authenticated over 11,000 certificates/credentials.
Founded by Mayur Ashok Zanwar and Samit Surendra Singhai. Mayur is a passionate and enthusiastic CA, Blockchain Professional, has been instrumental for entrepreneurship development and keenly interested in innovative ideas and Technology. Samit is a Serial Entrepreneur, Blockchain Professional, an Engineering graduate from USA. An avid learner and equally curious about how Science and Technology change lives. He is a firm believer in System Processes and Machines.
Samit Singhai, the Co-Founder at TruScholar said, “Current credentialing process consist of many issues like cumbersome issuance, high designing cost and time, High operational Costs and Time, tedious verification process and centralize storage prone to hacking, that’s how TruScholar started filling in a previously existing gap. Apart from its security features, as blockchain accelerates into the mainstream, institutions will also have greater control and transparency over their data. Blockchain can help reinvent the sector and deliver superior learning experiences to students from peer-to-peer education to’ learn to earn’ opportunities.”
Speaking on investing in TruScholar, Ramesh Loganathan, Partner at SucSEED Indovation Fund, said, “The TruScholar tech is based on blockchain, for issuing and verifying credentials. That makes Issuance & Verification Simple, initially targeting academic institutions. We are very excited with their traction. So far, they have managed to secure 140+ clients from various domains.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors — EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS and Digital Economy & Emerging Tech.
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