Education expertise startup Sunstone Eduversity has raised Rs 24 crore in Series A funding led by Saama Capital, together with participation from current traders Prime Venture Partners, Purvi Capital and Leo Capital founder and MD Rajul Garg.
The spherical additionally noticed Helion Advisors MD Ashish Gupta and PeopleStrong CEO Pankaj Bansal coming onboard as new traders.
Sunstone Eduversity plans to utilise the capital for investments in expertise, hiring and constructing its curriculum. It’s additionally rising its community of companion faculties from eight establishments in six cities to 20 companions in 15 cities by July 2021.
“Sunstone Eduversity is fixing the problem of large scale skill gaps in students,” stated Ashish Munjal, cofounder at Sunstone Eduversity. “We focus on imparting practical skills training instead of outdated theory and remote learning methods.”
Founded by Munjal and Piyush Nangru, Sunstone presents greater training programmes in BFSI, logistics, analytics, gross sales administration and digital advertising verticals, which have been designed in shut partnership with corporates.
The firm presents a singular ‘pay after placement’ mannequin, and noticed functions from college students leaping fourfold to 10,000 this 12 months. Sunstone enrolled 1,000 college students this 12 months, which it claims is a threefold improve in comparison with final 12 months.
“Increasingly, the need for education to be outcome-oriented is dominating the minds of both students and the industry,” stated Kiranbir Nag, Partner at Saama Capital. “Sunstone is well placed to bring about a shift in the present higher education system by equipping the students with the latest tools that would make them ready for real-world job opportunities.”
Sunstone stated it was in a position to generate over 450 internship presents for its college students graduating in the 2019-21 batch regardless of the Covid-19 pandemic placing a damper in hiring throughout most industries.