Sunstone Eduversity, an India-based edtech startup, has raised $3.25 million (Rs 24 crore) in a Series A funding round led by Saama Capital. Other investors including Ashish Gupta (MD, Helion Advisors) and Pankaj Bansal (co-founder and CEO, PeopleStrong) also participated in the round.
The investment will be used for hiring, developing curriculum, and building up its platform. Sunstone also hopes to partner with more colleges across different cities in India.
Founded in 2014, Sunstone focuses on students' careers by offering higher education programmes in banking, financial services and insurance, logistics, analytics, sales management and digital marketing verticals. It also adopts the 'pay-after-placement' model.
The startup claimed that it has received over 10,000 applications this year, and has enrolled over 1,000 students, a 3X increase compared to last year.
Ashish Munjal, Sunstone Eduversity’s co-founder, said in a statement, "Sunstone Eduversity is fixing the problem of large-scale skill gaps in students by adopting one simple principle: accountability. By collecting fees only after our students get jobs, we make sure that all the cogs in our system are working towards the success of our students."
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