Skill-Lync, an engineering-focused edtech startup, announced it has raised $17.5 million in a Series A funding round led by Iron Pillar, according to ET report. Binny Bansal (co-founder of Flipkart), Sai Krishnamurthy (ex-Flipkart; co-founder of Xto10X) and Rashmi Kwatra (founder of Sixteenth Street Capital) also participated in the funding round.
The capital raised will be used to increase the number of courses offered, build the next level of a strong management team and expand the business to international markets, according to a company statement.
Founded in 2018 by Suryanarayanan P and Sarangarajan V, Skill-Lync provides industry- relevant courses in mechanical, electrical, civil, and computer science engineering for students in India and other parts of the world. The company, with its several interdisciplinary and job-oriented courses, aims to fill the ever-increasing gap between what industries expect and what engineering students learn on campus.
“The rapid adoption of new technologies by industries has also created a need for constant upskilling of engineering professionals,” Suryanarayanan P, who is also the chief executive of Skill-Lync, said. “Hence, the need of the hour is to have engineers who have knowledge of both engineering fundamentals and how they can be applied to solve real world engineering problems through engineering design and simulation tools.”
“Engineering education and upskilling outside of computer science have seen very little digital disruption over the last two decades,” said Iron Pillar’s managing partner Anand Prasanna. “This, combined with the ever-expanding need for real world interdisciplinary applications of engineering in today’s world, creates a unique opportunity to establish a multi-billion-dollar global company with deep moats in this space.”
“This is also a strong beachhead for expansion into multiple adjacent areas,” he added.
Skill-Lync has collaborated with more than 800 industry experts for creating their existing course content. The company claims that due to its specialised digital delivery model, the platform has the highest course completion rates in specialised course categories.
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