Edtech startup Melvano raises Rs 1.3 Cr from in funding
- ByStartupStory | February 16, 2023
Melvano, an Edtech startup incubated at IIT Madras, has secured an investment of Rs 1.3 crore from Tyke Invest to expand its upskilling platform, Skillbary. Founded in 2018 by Taran Singh and Sachin Sanodiya, Melvano’s learning app provides tailored coursework for students preparing for IIT-JEE and NEET exams, based on their individual assessments.
Melvano has introduced a unique incentive system for its students, rewarding them with Melvano coins for completing coursework or tests on its learning app. As students accumulate these coins, they can be exchanged for premium services like live classes and personalized mentorship from IIT alumni. This encourages students to engage more deeply with the app and provides added value to Melvano’s offerings.
Melvano plans to make a foray into the upskilling market with its upcoming platform, Skillbary, set to launch in March, using the recent Rs 1.3 crore investment to finance the venture.
The platform will provide a fresh opportunity for the company to expand its reach and cater to a wider audience, leveraging Melvano’s expertise in personalized coursework and incentivized learning to create a comprehensive upskilling experience.
CEO Taran Singh of Melvano has observed that the skill gap between the education system and current job market is leaving many graduates unemployed. With the majority of upskilling platforms catering to working professionals, new graduates are often left with limited options.
To address this issue, Melvano’s new platform Skillbary aims to provide comprehensive upskilling solutions for all.
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