Private Equity

PE Fund Investments

Upskilling player Sunstone raises $35-M from WestBridge, Alteria Capital

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Gurugram-headquartered, higher education-focused edtech firm Sunstone has raised USD 35 million in a Series C funding round led by WestBridge Capital with participation from fellow existing investor Alteria Capital. Sunstone plans to use the fresh capital to launch undergraduate tech programs. In October 2021, Sunstone raised USD 28 million in Series B funding from WestBridge, Saama Capital and Alteria. Previously, it had raised nearly USD 3 million in a Series A financing round. Founded in 2019 by Ashish Munjal and Piyush Nangru, Sunstone works with academic institutions to help upskill undergraduate and postgraduate students for employability. The company claims to have a presence in more than 35 cities, working with 40 institutions. It had reported zero operating revenue and an INR 15.45 crore loss for FY21.