Blockchain Platform, TheRollNumber Closes Pre-Seed Funding Round

Hyderabad-based TheRollNumber has completed the financing of PreSeed led by India Accelerator, Artha Venture Fund and Rudraksh Ventures. It is a platform for verifying, authenticating and issuing blockchain-based credentials.

The fresh funds will be utilised for product development and deployment.

“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,” said Sai Raghavendra Sharma, Founder, TheRollNumber.

TheRollNumber has already started its discussions with the respective departments as the Government of India is optimistic about Blockchain and its use cases. India has approximately 900+ universities among which 30 per cent do not have the proper infrastructure to digitise and verify services. The function of this stratup is to help these educational institutions digitize their records for free and place them on the startup’s blockchain network. This startup provides India's first credential tracking system to help people control their data.

Hyderabad-based startup TheRollNumber was founded by Sai Raghavendra Sharma in 2020 and is accelerated by India Accelerator and DPIIT. This startup focuses on digitisation of records for education degrees, employment, birth certificates and a lot more by providing background check service for employers in 40 per cent lower costs and 60 per cent less time.

The Government of Maharashtra selected TheRollNumber in the top 100 startups in MSINS MSW.

“This is 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,” said Anirudh A Damani, Managing Partner, Artha Venture Fund.

He further added, “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.”