Skill-Lync, an engineering-focused edtech startup, announced on Monday that it has acquired Crio, an experiential learning platform for tech careers, for an undisclosed sum.
The acquisition is expected to strengthen its offerings in higher education at a time when competition in the sector is increasing due to a decline in online learning. According to Skill-Lync, with this acquisition, Crio will operate as an independent brand within the Skill-Lync Group.
Skill-Lync stated that the Crio founders will continue to focus on and run the company's business and growth following the acquisition.
Crio.Do, founded by former Flipkart and Google employees, provides professional and student experiential learning programmes. Binny Bansal and other former Flipkart employees have invested in the startup.
Sarangarajan V Iyengar and Sarangarajan V founded Skill-Lync in 2018 with the goal of providing industry-relevant and job-leading courses for Engineering students and graduates across all disciplines. Currently, the company claims that it assists over 30,000 students from all over India with such courses.
Skill-Lync raised $17.5 million in a Series A funding round led by Iron Pillar in August of last year, with existing investors including Y Combinator, Better Capital, Flipkart co-founder Binny Bansal, Sai Krishnamurthy (Xto10X), and Rashmi Kwatra (Sixteenth Street Capital) also participating.