Edtech startup Sunstone Eduversity secures Rs 11.3 cr seed funding to build its college network
Edtech startup Sunstone Eduversity has received Rs 11.3 crore in seed funding led by Prime Venture Partners. This funding round has also seen participation from LetsVenture, PS1 Ventures, and Rajul Garg.
The new funds will be used by Sunstone Eduversity to build its network of colleges across various cities. It will also boost its efforts in creating industry-ready professionals by investing in technology and curriculum.
Currently, the edtech startup has five partner institutions in three cities with 300 students. Sunstone Eduversity is eyeing to partner with 10 more colleges, with an aim to achieve a 7x growth in student enrollments with over 2,000 students across nine cities in 2020.
Ashish Munjal, Co-Founder of Sunstone Eduversity, said, “We are making higher education accountable. Our model can produce industry-ready professionals who can start contributing towards an organisation’s success right from the beginning. This is the only higher education program where the success of the education provider is completely aligned with the student’s success.”
Incorporated by Ashish Munjal and Piyush Nangru, Sunstone focusses on those MBA institutes that find it challenging to fill in students and more importantly, to place these graduates with jobs. It offers an end-to-end framework including the curriculum, teaching faculty, and job placements.
Amit Somani, Managing Partner, Prime Venture Partners, stated, “In the last few decades, higher education in India has hardly seen any innovation whether in curriculum or methodology. With one of the largest youth workforce in the world and rapidly evolving new-age jobs and businesses, there is a dire need for industry-ready professionals in India. Sunstone is addressing this with technology-led pedagogy and a highly attractive business model, the Pay after Placement model brings in accountability for the students.”