Edtech Sunstone raises $35 million in Series C round

Edtech start-up Sunstone has raised $35 million in a series C funding round led by existing investors WestBridge Capital and Alteria Capital. The company plans to utilise the fresh capital to launch new programmes focusing on undergraduate tech ones. It did not reveal its valuation after the infusion of this funding round, which is its second in the past year.

Last October, the Gurugram-based edtech raised $28 million in Series B funding from WestBridge, Saama Capital and Alteria Capital. They were also involved in the company’s Series A financing round, where it raised $3 million.

“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,” said Sandeep Singhal, managing partner, WestBridge Capital, in a statement.

Ashish Munjal and Piyush Nangru founded Sunstone in 2010 to collaborate with academic institutions and help them upskill undergraduate and postgraduate students with employable skills. Working with over 40 institutions across 35 cities, it aims to expand its footprint to 100 cities.

“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. “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 are trying to solve for is very large.”