Higher Education Startup Sunstone Raises $35 Mn in Series C Funding led by WestBridge Capital
|[L-R] Ashish Munjal (CEO) & Piyush Nangru (COO) – Founders of Sunstone Eduversity (1)|
The startup plans to expand into 100+ cities in the next two years.
Sunstone, one of India’s leading higher education startup, has raised $35 million in Series C funding led by WestBridge Capital, which also saw participation from Alteria Capital. The company with presence across 35+ cities in 40+ institutions is building capacities to expand into 100 cities across the country.
Founded by Ashish Munjal and Piyush Nangru in the year 2019, Sunstone had raised $28 million in Series B in October 2021. As per the company’s founder Ashish Munjal, the fresh capital will be used to expand into new programmes, with a key focus on undergraduate tech programs.
Commenting on the funding, Ashish Munjal, Co-founder and CEO, Sunstone said, “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. Over the years, we have made significant strides in the direction but still have a long way to go as the market opportunity and problem we’re trying to solve for, is very large.”
Starting with post graduate management education, Sunstone ventured into undergraduate programs in 2022 for the first time, registering a staggering 10X growth in the past two years.
Reiterating their belief in Sunstone’s vision, Sandeep Singhal, Managing Partner, WestBridge Capital said, “Over the last year, we have seen Sunstone grow and continue to upgrade the quality of education provided to every student. Seeing the ever increasing demand and its potential to be a major disruptor, we are excited to double down our investment to support its mission of transforming the higher education sector in India.”
Established with a vision to transform higher education space, Sunstone strives to introduce accountability, accessibility and quality education for all. By making education outcome focused and industry relevant, Sunstone aims to become the de-facto choice for every student who wishes to pursue a meaningful education.
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