Sunstone Eduversity has recently secured 24 Crore INR in Series A funding round. Saama Capital led the latest funding round. The startup plans to expand over 15 cities across India and register more than 3,000 students by July 2021. The startup is also aiming to increase the industry-ready higher education adoption among students.
Sunstone Eduversity plans to use fresh immersions to hire more talent and build an effective curriculum and tech-platform. The startup would also utilize the funds to increase its efforts to create industry-ready professionals.
The company aims to develop a more deep college network across various parts of India. Ashish Munjal, the Co-founder of Sunstone Eduversity, while commenting on the latest fundraise, stated that the company is working on filling the large-scale skill gaps in India’s students. It is adopting the single principle of accountability to achieve its goals.
Ashish Gupta, MD of Helion Advisors, and Pankaj Bansal, Co-founder, and CEO of PeopleStrong, also participated in the latest funding round. Moreover, the fundraise also recognized participation from Rajul Garg, Prime Venture Partners, and Purvi Capital.
Munjal stated that most utmost freshers in India lack industry-relevant skills, which is one of the most consequential challenges they face in interviews. It reduces their chances of getting recruited by reputed companies. He added that Sunstone Eduversity focuses on practical skills training rather than outdated theory learning methods.
The company claims that it has received more than 10,000 applications in 2020 and has enrolled over 1,000 students. It has witnessed a 3X growth since its inception. As per the company’s statement, it is working closely with corporates to develop students as industry ready specialists in different segments. It includes BFSI, sales management, logistics, analytics, digital marketing, and others.