Edtech Startup Skill-Lync Raises $17.5M In Series A Funding
Skill-Lync, an Engineering-focused edtech startup, has raised $17.5 million in a Series A funding round led by Iron Pillar, making it the largest Series A funding round raised by an edtech startup.
Y Combinator and Better Capital also participated in the funding round. Additionally, Binny Bansal (Co-founder of Flipkart), Rashmi Kwatra (Founder of Sixteenth Street Capital) and Sai Krishnamurthy (ex-Flipkart; Co-founder of Xto10X) joined as new investors.
As per the startup, it will use the capital to increase the number of courses it offers and build out the next level of a strong management team. The startup also plans to use the capital to expand the business to international markets.
Skill-Lync | Job Leading Online Engineering Courses
Founded by Suryanarayanan P and Sarangarajan V in 2018, Skill-Lync provides courses in the civil, mechanical, electrical, and computer science engineering domains for students in India and other parts of the world.
Suryanarayanan P, Co-founder of Skill-Lync, said,
“The rapid adoption of new technologies by industries has also created a need for constant upskilling of engineering professionals. 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.”
Aiming to fill the ever-increasing gap between what industries expect and what engineering students learn on campus, the edtech startup has collaborated with more than 800 industry experts for creating its existing course content. As per the startup, due to its specialised digital delivery model, it has the highest course completion rates in specialised course categories.
The Indian edtech industry is estimated to reach $12 billion by 2025, stated a thematic research report by Anand Rathi Advisors Limited (ARAL). In the calendar year 2020, the Indian edtech sector received an investment of $ 2.1 billion, while in 2021, investors have pumped in $2-2.5 billion so far.
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