Skyfi Labs, a Bangalore-based edtech startup targeting engineering students with products and services, raised an undisclosed amount from Spark Capital and Chennai Angels.
The funding will be used to expand the service to over 1,000 new colleges, increase and refine the course offerings and enhance back-end technology.
Skyfi Labs aims to turn “textbook geniuses” into employable engineers by giving them access to practical, hands-on training on- and offline. According to The Hindu BusinessLine over one million engineers graduate in India every year, yet according to Mckinsey only 25% of those graduates are employable.
Skyfi Labs was launched in 2010 by Pavan Ponnaganti and has so far trained over 25,000 students from more than 150 colleges according to VCCircle. The training takes place in the form of short two-three day courses and covers areas such as robotics, aeromodelling, web and mobile app development and civil engineering.
Besides getting students the work practice they need to get employed, Skifi Labs aims to lower the cost for companies involved in training and give them access to qualified job seekers. Through the Skyfi Evaluation Engine, the performance of each student is analyzed which eventually leads to personalized recommendations for companies that are looking for graduates to recruit.
Part of Skyfi Labs’ offering is similar to US-based Piazza which was also founded by an Indian edtech entrepreneur with a background in engineering. Chennai Angels also invested $500k in Classle, a Chennai-based peer-learning network, again similar to Piazza.
- Education products startup Skyfi Labs raises funding from Chennai Angels and Spark Capital | VCCircle
- The Chennai Angels, Spark Capital invest in Skyfi Labs | The Hindu BusinessLine
- Online social learning network Classle raises Rs 2.76Cr from Chennai Angels | VCCircle
- HEDLINE: Piazza launches Piazza Careers – Announces $8 million Series B | EDUKWEST