Edtech startup Elevate Education, formerly Sunstone, has raised ₹170 crore ($17.7 million) in a Series D funding round led by existing investor WestBridge Capital, according to inc42.com. Founded in 2019 by Ashish Munjal and Piyush Nangru, the company focuses on enhancing undergraduate and postgraduate education with industry-relevant and outcome-oriented programs. The fresh capital will be used to strengthen AI and technology capabilities and expand its network of partner institutions.
The funding round follows a period of strong execution for Elevate Education, which has significantly grown its student base, institutional partnerships, and revenue. The startup supports over 25,000 students through partner campuses including MIT Pune, Manipal University, SIIB, and BITS Pilani. Prior to this round, Elevate Education had raised nearly $70 million from investors such as Prime Venture Partners, Alteria Capital, and Saama Capital, and secured $35 million in debt funding from Alteria in 2022.
Elevate Education aims to upgrade academic courses and industry-linked programs with the new funds, focusing on practical learning, placement support, and student success interventions to improve employability and career outcomes. The company expects to generate ₹300 crore in revenue and achieve profitability by fiscal year 2027. Its approach aligns with growing demand for higher education that bridges skill gaps and meets industry needs.
The startup’s latest funding round led by WestBridge Capital marks a key milestone in its growth trajectory. Elevate Education’s expanding network and technology investments position it to scale its AI-driven platform across partner institutions. The company’s goal to turn profitable by FY27 is a concrete financial target reflecting its current momentum, as reported by inc42.com.