Startups in higher education Sunstone Eduversity has recorded 10-fold growth over the last two years, has branched out into undergraduate courses for the first time in 2022.
In 2019, Sunstone was founded with the help of Ashish Munjal and his partner Piyush, Sunstone works with educational institutions to help students improve their skills to make them employable. It provides career-oriented training for postgraduate and undergraduate students.
Ashish Munjal Co-founder and CEO of Sunstone states that he noticed in the beginning that the education systems in the Indian Tier II and Tier III did not provide the same education opportunities offered to students from Tier I cities “widening the skill gap over the years”.
It was in order to overcome this gap the reason Ashish and Piyush created Sunstone that offers outcomes-based classes in collaboration with top private and prestigious colleges. universities in a hybrid approach across India.
The Gurugram-based company recently announced the conclusion of its Series C round , which was $35 millionn with the help of WestBridge Capital and with participation from Alteria Capital.
The new capital is expected for “expand into new programmes and new geographies, with a key focus on undergraduate tech programmes”.
The Gurugram-based company has extended its reach to over thirty cities as well as 40 institutions.
Sunstone has raised $28 million through the Series B round, which was which was led by WestBridge Capital in October 2021. The round also included participation from investors like Saama Capital and Alteria Capital and Work10m which is a fund focused on work created by Pankaj Bansal, Group-CEO of PeopleStrong.
“Over the past year we’ve seen Sunstone expand and improve its education quality offered for every student. As we see the increasing demand for our services and the potential to be an important disruptive force, we are thrilled to boost our investment to help Sunstone achieve Sunstone’s mission to transform the sector of higher education within India,” said Sandeep Singhal the Managing Partner of WestBridge Capital, at the time of the investment.
Concentrating on the issue of employment
As per the India Skills Report, an average of 35-40 percent of engineering and management graduates are employed. The absence of a relevant courses, practical experiences, and an education that is focused on job-related skills becomes more prevalent in semi-urban regions rural areas, as well as regions of India that are located in the middle of access.
Ashish says that while constructing Sunstone, “the most important issue was one of employment post studies”. “The principal reason for moving on to higher education for a majority of aspirants is job opportunity, leading to financial security,” Ashish states.
Sunstone collaborates closely with corporates to create industry-ready programs for undergraduate and postgraduate student, and with specific concentration on BFSI analytics, business sales management, logistics, digital marketing, retail and many more.
He also says to this “the exact problem that we are trying to solve”.
What’s do we do next?
Sunstone’s main focus is on the emergence of cities and towns where there’s plenty of potential left untapped and an absence of opportunities.
Sunstone Edge has partnered in partnership with Propelld as well as Credenc to provide 0 percent cost EMI student loans who are enrolled in Sunstone edge.
“We are oriented towards building trust for the entire education category and building awareness around the possibilities and opportunities that education has to offer,” Ashish declares.
Sunstone intends to grow its operations to 100plus cities within the next two years.