Skill-Lync Raises $17.5 Mn In Series A Financing Led By Iron Pillar
Funds raised will be utilized for building a robust alternate platform for engineering education with job-leading interdisciplinary courses and for expanding into new geographies
Engineering-focused edtech startup Skill-Lync announced on Tuesday to have raised $17.5 million in Series A round, led by Iron Pillar, a venture growth investor backing global tech companies built from India. Existing investors Y Combinator and Better Capital also participated in this funding round. In addition, Binny Bansal (co-founder, Flipkart), Sai Krishnamurthy (ex-Flipkart; co-founder, X to10X), and Rashmi Kwatra (founder, Sixteenth Street Capital) joined as new investors.
"The ever-increasing gap between what industries expect and what students learn during their engineering education has caused a global shortage of high-quality engineering talent. The rapid adoption of new technologies by industries has also created a need for the 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. Skill-Lync's ability to understand the demands of the industry through our deep industry partnerships and the expert network has allowed us to create technical content that matches the present and future requirements of industries across the globe. We believe that our partnership with Iron Pillar will allow us to tap into Iron Pillar's network of global experts and help us accelerate towards our goal of building an alternate platform for engineering education. We are also thankful to our existing investors Y Combinator and Better Capital for their continued trust in our mission," said Suryanarayanan P, co-founder, and chief executive officer, Skill-Lync.
Skill-Lync provides job-leading industry-relevant courses in the mechanical, electrical, civil, and computer science engineering domains for students in India and other parts of the world. Given its specialized digital delivery model, the platform has the highest course completion rates in these course categories.
"SKILL-LYNC will double down on developing corporate partnerships to understand future talent requirements, build in-house high-end engineering teams to offer excellent learning outcomes to our students," explained Sarangarajan V Iyengar, co-founder, Skill-Lync.
The startup has collaborated with over 800 Industry experts for creating their existing course content and has full-time people with extensive experience in Industry (with the likes of Bosch, Cummins, ABB, Samsung, and Accenture, etc.) to provide the students a world-class learning experience, the company shared.
"Engineering education and upskilling outside of Computer Science has seen very little digital disruption over the last two decades. 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 global company with deep moats in this space. This is also a strong beachhead for expansion into multiple adjacent areas. Surya, Sarang, and the rest of the Skill-Lync team have already built a great product and significant revenue in the business, with exceptional growth and capital efficiency. We feel privileged to have the opportunity to partner with them in this journey," added Anand Prasanna, managing partner, Iron Pillar.
The capital raised will be used to increase the number of courses offered by Skill-Lync, build out the next level of the strong management team, and expand the business to international markets.