SkillLync, an engineering focused edtech business, has raised $17.5 million in Series A funding from Iron Pillar, a venture growth investor focused on global tech companies founded in India. Y Combinator and Better Capital also took part in the round.
New investors include Binny Bansal (Co-founder of Flipkart), Sai Krishnamurthy (ex-Flipkart; Co-founder of Xto10X), and Rashmi Kwatra (Founder of Sixteenth Street Capital).
This is the largest Series A round ever raised by an educational technology company
The ever-increasing gap between what employers anticipate and what students learn during their engineering education, according to Suryanarayanan P, Co-Founder and CEO of Skill-Lync, has generated a problem "There is a worldwide scarcity of high-quality engineering talent. Industry's rapid adoption of new technology has necessitated continuous engineering professional upskilling "
"As a result, engineers who understand engineering basics and how they may be applied to address real-world engineering challenges using design and simulation technologies are in high demand."
He went on to say that the edtech business offers students in India and other areas of the world industry-relevant courses in mechanical, electrical, civil, and computer science engineering.
“Engineering education and upskilling outside of computer science have witnessed relatively little digital innovation over the last two decades,” said Anand Prasanna, Managing Partner, Iron Pillar. This, combined with the world's growing demand for real-world interdisciplinary engineering applications, presents a once-in-a-lifetime chance to build a multibillion-dollar global corporation with strong moats in this domain. This is also a good starting point for expanding into other topics.
With remarkable growth and capital efficiency, Surya, Sarang, and the rest of the Skill-Lync team have already established a terrific product and considerable revenue in the firm.
"Concentrate on the learning outcomes.
Skill-Lync will focus on building in-house high-end technical teams to provide exceptional learning results to our students," said Sarangarajan V Iyengar, Co-founder of Skill-Lync.