India’s higher education service provide Sunstone bags $35 Million in Series C funding round
2022-08-22 19:45:39

India-based Edtech startup Sunstone Education Technology Pvt. Ltd(hereinafter referred to as Sunstone or the company) announced last Friday that it has raised $35 million in its Series C funding round led by WestBridge Capital, with the participation from Alteria Capital.

The fresh capital will be used for expanding its presence from the current 35+ cities to 100 cities across India. Moreover, the company plans to explore new programs, with a focus on undergraduate tech programms.   

Founded in 2019, Sunstone offers a hybrid learning model for higher education courses such as Master of Business Administration, Bachelor of Technology, and Bachelors of Business Administration, etc.  

Sunstone started with post-graduate management education courses, and eventually ventured into undergraduate programs in 2022. The company claims that it registered a 10 times growth in the past two years.  

Sunstone’s last round of financing was a $28 million Series B funding round closed in October last year. At that time too, WestBridge Capital had led the funding, with participation from three existing investors: Saama Capital, Alteria Capital and Work10m. 

As reported, investors pumped $4.7 billion into edtech platforms in 2021 while 2020 saw startups raising about $2.2 billion.  However, funding for edtech startups declined by 50% in the April to June quarter of 2022, according to a PricewaterhouseCoopers report released last month. 


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