Melvano, one of India’s learning platforms for JEE/NEET aspirants, has raised INR 1.3 crore in a funding round led by Tyke Invest. With the new round of funding, the Bengaluru-based company plans to enter the upskilling market by introducing Skillbary, a new product to be launched in March, the company said in a press statement.
Founded by IIT-Madras alumnus Taran Singh and Sachin Sanodiya, Melvano is an AI-based learning platform for competitive exams like the IIT-JEE, followed by the NEET and CUET. The platform has created a reward system for students, giving 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 alums.
Speaking about the development, Co-founder & CEO of Melvano, Taran Singh, said:
We are witnessing more and more graduates who have completed bachelor’s programme but cannot 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 affect even the best professionals. Given that, the majority of upskilling platforms only cater to working professionals.
The startup believes that every student has their learning style. Hence, it has launched preparatory tools like Foundation courses, Crash courses, Test series, and Personal mentoring. Students can improve their problem-solving skills with the help of Foundation courses & Crash courses. The main feature of Melvano is each user gets a mentor who guides them throughout the course, monitors their performances, and rigorously trains them to crack the exam with a good score.
Skillbary would offer micro-certification courses for college students or fresh graduates aiming to upskill themselves in product management, sales, operations, data science etc. This includes live projects, mock interviews, internships, and job opportunities upon course completion.
Melvano has been incubated in Nirmaan, Incubation cell at IIT Madras and was awarded the Sri Chinmay Deodhar award for its innovative quotient. In 2021, the firm had raised an undisclosed amount in seed funding from seasoned angel investors. According to the company, it has raised Rs 4 crore so far and is in talks with venture capital firms to raise more capital for its expansion.
