New Delhi, Aug 3: Venture capital firm Iron Pillar on Tuesday said it has invested USD 15 million (around Rs 112 crore) in edtech firm Skill-Lync which is backed by the US-based start-up accelerator YCombinator.
Skill-Lync raised a total of USD 17.5 million (around Rs 129 crore) in the round in which existing investors YCombinator, Better Capital, Flipkart co-founder Binny Bansal, former Flipkart executive and co-founder of Xto10X Sai Krishnamurthy and Sixteenth Street Capital founder Rashmi Kwatra also participated.
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.
“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 a global 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,” Skill-Lync co-Founder and CEO Suryanarayanan P said in the statement.
The company plans to use the capital to increase the number of courses offered by Skill-Lync, build out the next level of a strong management team and expand the business to international markets, the statement said.
“Engineering education and upskilling outside of Computer Science have seen very little digital disruption over the last two decades. Surya, Sarang and rest of the Skill-Lync team have already built a great product and significant revenue in the business, with exceptional growth and capital efficiency,” Iron Pillar managing director Anand Prasanna said. (PTI)
Follow our WhatsApp channel
