Sunstone, an edtech startup based in India has raised $35 million in its new funding round (a mixture of equity and debt financing) led by Westbridge Capital, with participation from others.
- The fund will be used by the startup to venture into newer segments of learning with focus on undergraduate technology programmes.
- Sunstone partners with colleges and private universities to offer higher education programmes in India. It also offers a hybrid learning platform for undergraduates and postgraduates in the country, focusing on technology, curriculum, and supply.
- The edtech is adding undergraduate courses such as business administration and computer application (bachelors) to its current educational offerings. Its student enrollment increased from 250 to 1,800 in 2021 and it looks to reach 6,000 students in-class in 2022.
- It is currently present in 35 cities with partnerships with 40 institutions, with a target of expanding into 100 cities in the next two years with active educational technology learning facilitation.
- Alteria Capital, Saama Capital, and Prime Venture Partners invested in the new round. The latest raise is coming within a year the edtech raised $28 million in funding and has now raised $69 million in total since its launch.