Thursday, September 29, 2022

Edtech startup Sunstone raises $35 million in funding round led by WestBridge Capital

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As edtech startups and unicorns lay off workers during funding winter, Gurugram-based is higher education platform sunstone on Friday said it has raised $35 million (about Rs 280 crore) in a Series C financing led by WestBridge Capital.



Sunstone, founded by Ashish Munjal and Piyush Nangru in 2019, had raised $28 million by October 2021.

The startup said it will use the latest funding to expand into new programs with a major focus on undergraduate engineering programs.

“The Indian higher education system is on the cusp of a much anticipated transformation. Sunstone is well positioned to enable this change and impact the lives of millions of students,” said Munjal, co-founder and CEO.

The latest funding round also saw participation from Alteria Capital.

The company, with presence in more than 35 cities in more than 40 institutions, is building capacity to expand to 100 cities across the country.

Sunstone began postgraduate management education and ventured into undergraduate programs in 2022, growing 10 times over the past two years.

“Given the ever-increasing demand and the potential to be a major disruptor, we are excited to double our investment to support (Sunstone’s) mission to transform India’s higher education sector,” said Sandeep Singhal , Managing Partner, West Bridge Capital.

Sunstone said its training programs are endorsed by the industry to increase employability, designed for hybrid delivery with a focus on soft skills and personality development.

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