Sunstone Eduversity raises $28 million from Westbridge, others

Sunstone Eduversity raises $28 million from Westbridge, others


Bengaluru: Sunstone Eduversity, an edtech startup offering higher education programmes, has raised $28 million in a Series B funding round led by WestBridge Capital along with participation of existing investors Saama Capital and Alteria Capital.

Work10m, a work-focused fund by Pankaj Bansal, the group chief executive officer of HR tech solutions provider PeopleStrong, also participated in the round.

Sunstone has now raised close to $34 million so far, including the latest round.

“The current funding is an endorsement to Sunstone’s unique model of working with reputed colleges and corporates and using technology to bring quality education to millions of students,” said Ashish Munjal, cofounder at Sunstone Eduversity.

The fresh capital will be used to invest in learning and technology assets, build a network of colleges across multiple cities, and hire across different functions, the company said in a statement.

Sunstone has over 300 employees and is planning to hire across technology, growth, product, and learning functions, it said. It will enrol more than 25,000 students across 35 cities by the end of 2022, the company said.

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Sunstone is currently present in 18 cities and will have 2,500 students on its platform by the end of the year. It is working with 24 campuses at present.

Founded in 2015, Sunstone offers higher education programmes in partnership with colleges and private universities. It works with corporates to develop industry-ready programmes for both postgraduate and the undergraduate students.

“The team at Sunstone has continued to have a lot of success in proving their model of making best-in-class outcome-based education available across the country with a high degree of accountability with respect to the students’ aspirations,” said Kiranbir Nag, partner at Saama Capital.

Sunstone recently said it would offer 100% scholarship to all athletes who represented India in the Tokyo Paralympics 2020.



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