Blockchain-Based Certificates Verification Platform TheRollNumber Raises $165,000 From Inflection Point Ventures

Updated on: 9 February 2023 6:41 pm

The report by InnoVen Capital also pointed out that nearly 58 per cent of founders managed to raise funds last year, compared to 92 per cent in 2021

Start-Up Founders Expecting A Tough 2023 For Fundraising: InnoVen Capital Photo: The report by InnoVen Capital also pointed out that nearly 58 per cent of founders managed to raise funds last year, compared to 92 per cent in 2021

BlockChain-based certificates verification platform TheRollNumber has raised $165,000 as a part of a seed round led by Inflection Point Ventures. The funds raised will be used to reinforce the technology stack, improve the platform, make greater use of data stacks and expand the team and operations.

Sai Raghavendra Sharma founded TheRollNumber in December 2020 with an aim of creating a platform for the unorganised background verification and credential-issuing market. They intend to concentrate their efforts on the background verification ecosystem as an amalgamated platform that focus on all the stakeholders i.e, employer, universities and individuals in the ecosystem.

They also aim to assist users who lack control over their certificates and need to carry all certifications and customisations. The platform offers backend-as-a-service (BaaS) and software-as-a-service (SaaS) services for employers and banks to verify and issue credentials, as well as colleges and certification bodies and individuals such as students and employers.

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“Blockchain technology has disrupted many niche sectors. TheRollNumber is cutting down the hassle of verifying the certificate/documents manually. We witness lakhs of admission to institutions, especially in peak season and employment is an ongoing process and post-pandemic where scanned documents are shared with employers, one can leverage the TheRollNumber platform and verify the credibility in less time without spending much," said Vikram Ramasubramanian, Partner at Inflection Point Ventures.

“TheRollNumber aims to provide a credential management system to individuals, TheRollNumber is building a system that not only enables digitisation and verification in less than 15 minutes but also let users or Individuals know ' who, why when and how are the credentials being utilised' which helps the problem of identity and credential theft,” added Sai Raghavendra Sharma, founder of TheRollNumber.

TheRollNumber is developing this blockchain technology using hyperledger fabric, starting with student records. While developing blockchain technology, it has reportedly begun paid pilots on a hybrid approach that uses application programming interface (API) to verify identification and historical job information.