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Skill-Lync Co-founders Paneerselvam and Sarangarajan V Iyengar
Chennai-based engineering-focused edtech startup Skill-Lync has reportedly laid off another 200-225 or 20% of its workforce as it aims to reduce its cost.
The development comes two months after it reportedly fired 400 employees, citing tough macroeconomic situations.
According to a TechCrunch report, Skill-Lync had also delayed salary payments for the affected employees.
In August 2021, Skill-Lync raised $17.5 million in a Series A funding round led by Iron Pillar. Notably, the startup was part of Y Combinator’s 2019 winter batch, where it raised $150,000 in two separate rounds from the renowned American technology startup accelerator.
Founded in 2018 by Paneerselvam and Sarangarajan V Iyengar, Skill-Lync aims to upskill engineering students to meet the ever-evolving demands of the industry.
Recently, Sachin Bansal-led Navi, a fintech startup providing lending services, has reportedly laid off around 150 to 200 employees across various departments.
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