Edtech Startup Sunstone Raises $35 Million In Series C Funding Round
Sunstone Eduversity, a Delhi-based higher education startup, has raised $35 million in a series C funding round led by WestBridge Capital. The funding round also saw participation from Alteria Capital.
As per the startup, the raised capital will be used to expand into new programmes with a key focus on undergraduate tech programmes.
Sunstone | Edtech Startup
Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone works with academic institutions in up-skilling students for employability and offers career-oriented training interventions for undergraduate and postgraduate students.
The startup follows a pay-after-placement business model and thus, has formed partnerships with over 40 institutions in 30+ cities across the country.
Speaking about the development, Ashish Munjal, Co-founder and CEO of Sunstone, said,
“The Indian higher education system is at the brink of a long overdue transformation. Sunstone is well positioned to enable this change and impact the lives of millions of students. Over the years, we have made significant strides in the direction but still have a long way to go as the market opportunity and problem we are trying to solve for is very large.”
The startup aims to expand its geographical footprint to 100 Indian cities and claims to record 10x growth in the last two years.
Last year in October, Sunstone secured $28 Million in a Series B funding round from Westbridge Capital, Alteria Capital, Work10m fund and Saama Capital. And with this funding round, the startup has raised a total of $67.7 million funding so far.
Commenting on the development, Sandeep Singhal, Managing partner of Westbridge Capital, said,
“Over the last year, we have seen Sunstone grow and continue to upgrade the quality of education provided to every student. Seeing its potential to be a major disruptor, we are excited to double down our investment to support its mission of transforming the higher education sector in India.”
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