Amritsar, NFAPost: In Series A funding round led by Saama Capital, edtech startup Sunstone Eduversity has raised 240 million rupees.
Existing investors Prime Venture Partners, Purvi Capital, and Leo Capital founder and Managing Director Rajul Garg also participated in the funding round. New investors onboard were Helion Advisors MD Ashish Gupta and PeopleStrong Chief Executive Officer Pankaj Bansal.
The homegrown startup plans to use this funding for investments in technology, hiring, and building its curriculum.
The startup is also looking at growing its network of partner colleges from eight institutions in six cities to 20 partners in 15 cities by July 2021.
Sunstone offers higher education programmes in BFSI, logistics, analytics, sales management and digital marketing verticals, which have been designed in close partnership with corporates.
“Sunstone Eduversity is fixing the problem of large scale skill gaps in students,” Sunstone Eduversity Co-Founder Ashish Munjal said.
“We focus on imparting practical skills training instead of outdated theory and remote learning methods.”
The company said that it was able to generate over 450 internship offers for its students graduating in the 2019-21 batch despite the Covid-19 pandemic hitting the hiring process across most industries.
