Tyke Invest has made a Rs 1.3 crore investment in the edtech company Melvano as it looks to grow its new platform in the Skillbary upskilling sector. The IIT Madras-incubated firm was founded in 2018 by Taran Singh and Sachin Sanodiya. The learning app provides IIT-JEE and NEET exam participants with coursework that is specifically designed for them based on their evaluations as students.

It has also created a system of incentives for learners, awarding Melvano coins each time they complete a chapter or take a test on the app. The premium Melvano services, such as live classes and one-on-one coaching from IIT alumni, can then be purchased with these coins. With the additional cash, Melvano intends to introduce a brand-new platform named Skillbary and enter the market for upskilling.

"We are seeing an increasing number of graduates with bachelor's degrees who are unable to find work. This is a result of the enormous gap between the skills taught in universities and those required for modern jobs. We have all seen how the unpredictability of the recession has even the top experts affected. The bulk of upskilling platforms, as a result, only serve working professionals, according to CEO Taran Singh.

For college students or recent graduates who want to advance their skills in areas such as product management, sales, operations, data science, etc., Skillbary will provide micro-certification courses. This includes actual projects, practise interviews, internships, and employment possibilities after the course is through.