Elevate Education, previously recognised as Sunstone, has successfully obtained Rs 170 crore ($17.7 million) in Series D funding from WestBridge Capital. In August 2022, Elevate secured $35 million in a Series C funding round led by WestBridge Capital, with contributions from its existing investor, Alteria Capital. The Gurugram-based higher education platform intends to utilise this funding to bolster its technological and AI capabilities, broaden its network of partner institutions, elevate student outcomes, and invest in academic programmes that are in line with industry needs.
Founded by Ashish Munjal, Ankur Jain, and Piyush Nangru, Elevate Education collaborates with colleges and universities to provide undergraduate and postgraduate programmes, enhanced by technology, placement aid, and student success services. The company currently caters to over 25,000 active students and collaborates with 22 campuses across 15 cities. Elevate anticipates reaching a revenue of Rs 300 crore in FY27 and aims to achieve profitability within that year.
Looking ahead, Elevate Education aims to grow its student population to 60,000 and expand its partner institution network to 40 by FY29. The company is also investing in AI-powered solutions throughout the student lifecycle, which includes learning, career support, and engagement. With this latest round of funding, Elevate Education aspires to solidify its position within the higher education landscape and widen access to industry-relevant learning programmes throughout India.
