SkillVeri raises Rs 8 cr from Dell Foundation, Ankur Capital

By: |
New Delhi | January 12, 2017 3:24 PM

Michael & Susan Dell Foundation and impact investor Ankur Capital have invested Rs 8 crore in Chennai-based startup SkillVeri.

SkillVeri would leverage this investment to enable training of 5,00,000 youth for well-paying aspirational manufacturing jobs over the next five years, a company release said. (Twitter)SkillVeri would leverage this investment to enable training of 5,00,000 youth for well-paying aspirational manufacturing jobs over the next five years, a company release said. (Twitter)

Michael & Susan Dell Foundation and impact investor Ankur Capital have invested Rs 8 crore in Chennai-based startup SkillVeri.

“This investment will enable Skillveri to expand its presence into new geographies as well as foray into multiple new skill domains, such as painting, paramedical procedures, jewelry making, where manual dexterity is highly valued,” Skillveri founder and CEO Sabarinath Nair said.

SkillVeri would leverage this investment to enable training of 5,00,000 youth for well-paying aspirational manufacturing jobs over the next five years, a company release said.

It also expects to expand from its current manufacturing focus to four new industries and six geographies in the future, it added.

You may also like to watch

“Skillveri simulators provide access to high quality training, giving youth a head start to well-paying jobs and meaningful careers,” Rahil Rangwala, Director, Family Economic Stability at Michael & Susan Dell Foundation, said.

Ankur Capital had made a seed investment in Skillveri in 2015.

“Our participation in follow-on funding along with Michael & Susan Dell Foundation in their Series A fund raise is a reflection of our confidence in Skillveri’s global potential,” Rema Subramanian, Partner, Ankur Capital, said.

SkillVeri has the most widely installed simulator in the welding domain that trains low-income youth with high-quality manufacturing skills. This is the only indigenous simulator and stands out as the most affordable product in the market.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Covid Disruption: PC shipments under cloud as economic activity down
2CAIT urges Commerce Minister Piyush Goyal to direct CCI to initiate probe against Amazon, Flipkart
3Microsoft to launch Xbox TV app and standalone xCloud streaming stick