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Sunstone, a higher education startup, has raised $35 million in Series C funding led by WestBridge Capital.
The round saw participation from Alteria Capital. Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone had raised $28 million in Series B in October 2021. The fresh capital will be used to expand into new programmes, with a key focus on undergraduate tech programs, according to Munjal.
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.”
The company with presence in more than 35 cities in over 40 institutions is building capacities to expand into 100 cities across the country. Starting with post graduate management education, Sunstone ventured into undergraduate programs in 2022. The company said it registered 10 times growth in the past two years.
De-facto choice
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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