IIT Madras-incubated edtech startup Melvano has raised Rs 1.3 crore in a new funding round led by Tyke Invest to grow its new platform in the upskilling segment—Skillbary.
Founded in 2018 by Taran Singh and Sachin Sanodiya, Melvano app offers personalised coursework for IIT-JEE and NEET aspirants based on the student’s assessment.
The startup said it has created a reward system for students which gives out Melvano coins each time they complete a chapter or take a test on the app. These coins can be later redeemed while purchasing any premium services of Melvano like live classes and personal mentoring by IIT alumni.
“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 Taran Singh.
According to the company’s statement, The new platform Skillbary would offer micro-certification courses for college students or fresh graduates who are aiming to upskill themselves in fields of product management, sales, operations, data science etc. This includes live projects, mock interviews, internships, and job opportunities upon course completion.