Coinsilium Group Limited (LON:COIN) has hailed progress from Indorse, a company in which it holds a 10% stake, following a US$6.5mln investment from India’s largest media house, The Times Group.

In an operational update, Coinsilium said Indorse, a Singaporean-based firm that uses blockchain to verify people’s skillsets, had used its relationship with The Times Group to deliver seven print campaigns in the Economic Times, the world’s second-most widely read English-language business newspaper, producing several “meaningful leads” from Fortune 100 and Fortune 500 companies.

READ: Coinsilium’s Indorse to get US$6.5mln injection from Indian media giant The Times Group

Indorse had also participated in a number of “high-profile initiatives” in Bangalore and Mumbai, including as an associate sponsor of the Economic Times Startup Awards, which had generated several leads for the company.

Meanwhile, in Singapore, Indorse had secured a “substantial” long-term project for its upskilling solution, used to assess data scientists, with the Oversea-Chinese Banking Corporation as well as also delivering assessment services for a blockchain ‘hackathon’ organised by a branch of Rolls Royce Holdings PLC (LON:RR.).

Coinsilium added that Indorse had also set up a UK subsidiary with sales representation to act as a “springboard” for expansion into the European and US markets.

Indorse had also optimised a distinct set of product lines and a scaleable revenue model, with “strong growth and robust pipeline” of small and large enterprise clients across Singapore and India.

Eddy Travia, Coinsilium’s chief executive, said it was “gratifying” to see Indorse’s progress, adding that going forward they expected the company’s “rapid growth trajectory” to be reflected in the valuation of its own investment.

“The marketplace for talent acquisition has never been more competitive, especially in the fast-evolving data and information technology sector. It is therefore most encouraging to see the fast pace at which the Indorse team are rolling out their client solutions and their growing roster of prestigious corporate clients”, Travia said.