Edtech startup Melvano on Thursday said it had received an investment of Rs 1.3 crore from Tyke Invest as it looks to expand its new platform in the upskilling segment—Skillbary.
Taran Singh and Sachin Sanodiya founded the IIT Madras-incubated startup in 2018. Based on the student’s assessment, the learning app offers customized coursework for the IIT-JEE and NEET aspirants.
Further, it has developed a reward system for students that gives Melvano coins each time they complete a chapter or take a test on the app. These coins can then be used to purchase premium Melvano services, such as live classes and one-on-one coaching from IIT alumni.
With the new capital, Melvano plans to enter the upskilling market with its new platform, Skillbary, in March.
“We are witnessing more and more graduates who have completed bachelor’s programme but are unable to find employment. The vast disparity between the skills taught in colleges and those needed for current occupations is the cause of this. We all have witnessed the unpredictable recession to affect even the best professionals. Given that, majority of upskilling platforms only cater to working professionals,” said CEO Taran Singh.
Skillbary would offer micro-certification courses for college students or fresh graduates looking to upskill themselves in domains like product management, sales, operations, data science, etc. This includes live projects, mock interviews, internships, and job opportunities upon course completion.
“Additionally, we would encourage kids to get employment when they are ready,” the CEO added.