Edtech start-up gets infusion of Rs 280 cr

NEW DELHI: As edtech start-ups and unicorns lay off employees amid the funding winter, Gurugram-based higher education platform Sunstone on Friday said it has raised $35 million (around Rs 280 crore) in a Series C funding led by WestBridge Capital.

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

The start-up said it will use the latest funding to expand into new programmes with a key focus on undergraduate tech programmes.

“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,” said Munjal, Co-founder and CEO.

The latest funding round also saw participation from Alteria Capital.

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

Starting with post graduate management education, Sunstone ventured into undergraduate programs in 2022, registering a 10 times growth in the past two years.

“Seeing the ever increasing demand and its potential to be a major disruptor, we are excited to double down our investment to support its (Sunstone’s) mission of transforming the higher education sector in India,” said Sandeep Singhal, Managing Partner, WestBridge Capital.