Edtech startup Sunstone has secured around Rs 280 crore in a Series C funding round. The company will use the money to expand into new programmes, with a particular emphasis on undergraduate technology programmes.
Sunstone, a higher education startup located in Gurugram, announced on Friday that it has secured $35 million (about Rs 280 crore) in Series C investment led by WestBridge Capital.
Sunstone was established in 2019 by Ashish Munjal and Piyush Nangru. It had secured $28 million by October 2021.
The firm stated that it will utilise the current capital to grow into additional programmes, with a particular emphasis on undergraduate technology programmes.
Munjal, co-founder and CEO, stated, “The Indian higher education sector is about to undergo a long-awaited revolution. Sunstone is in an excellent position to facilitate this transition and influence the lives of millions of kids.”
Alteria Capital also participated in the most recent fundraising round. The firm, which has a presence in over 35 cities and more than 40 institutions, is preparing to expand into 100 locations throughout the country.
Sunstone began with postgraduate management education and expanded into undergraduate programmes in 2022, registering a tenfold increase. Sunstone began with postgraduate management education and expanded into undergraduate programmes in 2022, with a tenfold increase in the previous two years.
Sandeep Singhal, Managing Partner at WestBridge Capital, said, “Seeing the constantly rising demand and its potential to be a significant disruptor, we are thrilled to double down on our investment to support its (Sunstone’s) aim of improving the higher education market in India.”
Sunstone claims that its training programmes are industry-endorsed and intended for hybrid delivery with an emphasis on soft skills and personality development.
