DealCurry.com : National Skill Development Corporation Invests In SkillSonics
Jun 25, 2013
Private Equity | 25 June 2013
National Skill Development Corporation Invests In SkillSonics
by Pranav Puri
SkillSonics has raised R22.5 Cr from National Skill Development Corporation, yourstory.in states. SkillSonics provides skills training programs to Indian engineering sector that includes automotive and auto components, equipments/machinery, light and precision engineering, heavy engineering, electrical/durables manufacturing and electronics assembly organizations. The NSDC funding is an endorsement of this endeavour, and a significant step towards building this ecosystem through Public-Private Partnership (PPP) that will help in creating employment opportunities. SkillSonics targets to certify 1 Mn Indian technicians to international skill levels in the engineering sector over next 10 years. It also plans to launch similar courses in food processing, ICT, commercial, hospitality and pharmaceuticals verticals. SkillSonics has exclusive co-operation partnership agreements with Swissmem (Swiss Mechanical and Electrical Manufacturing Industries) and SFIVET (Swiss Federal institute of Vocational Education and Training) for bringing content, methodology and pedagogy of Swiss Vocational training courses to India and Sri Lanka. Built on a pilot project that commenced in 2009 they have trained over 600 apprentices till date and have plans to step up their presence to eight states, covering all the major engineering clusters across the country. In May, NSDC acquired 27% stake in Apollo Med Skills, a medical training arm of Apollo Hospitals Group for R3.65Cr. Previously in March, iStar, a vocational skills training company had raised undisclosed amount of seed investment from Unitus Seed Fund and in April, Medical Education Research Centre for Educational Technologies (MEdRC) was in talks with PE players for a fund infusion of R30 Cr for its next phase of expansion.