Iron Pillar invests $15m in Y Combinator-backed Indian edtech startup Skill-Lync

Photo: Scott Graham / Unsplash

Iron Pillar, a venture growth investor that backs technology companies, on Tuesday said it has invested $15 million in Y-Combinator-backed, engineering-focused edtech start-up, Skill-Lync.

Existing investors Y Combinator and Better Capital also invested in the $17.5 million funding round. In addition, Binny Bansal, co-founder of Flipkart, Sai Krishnamurthy, co-founder of Xto10X and Rashmi Kwatra, founder of Sixteenth Street Capital, joined as new investors in this round.

Skill-Lync, which was launched in April 2018 by Suryanarayanan P and Sarangarajan V, provides courses in the mechanical, electrical, civil and computer science engineering domains for students in India and other parts of the world.

Suryanarayanan P, co-founder and CEO, Skill-Lync, said, “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 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.”

“…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,” he added.

Anand Prasanna, managing partner, Iron Pillar, said, “Engineering education and upskilling outside of computer science have 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 dollar global company with deep moats in this space. This is also a strong beachhead for expansion into multiple adjacent areas. 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.”

The article was first published on livemint.com.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.