The edtech startup, Sunstone Eduversity (1), has secured 24 crore INR in Series A funding round. Saama Capital led the latest funding round. 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 observed participation from Rajul Garg, Prime Venture Partners, and Purvi Capital.
Sunstone Eduversity plans to use fresh infusions 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 different 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.
He added that the team makes sure that all the firm system is working towards their students’ success and collects fees only after getting jobs.
Sunstone Eduversity to Increase the Hiring Chances of Freshers by Infusing Industry-relevant Skills
Munjal stated that most freshers in India lack industry-relevant skills, which is one of the biggest 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 He added that Sunstone Eduversity focuses on practical skills training rather than outdated theory learning methods.
Notably, the team generated over 450 internship offers for the 2019-21 bath despite the pandemic. The edtech firm focuses on the careers of students and operates on the pay-after-placement model. On the platform, students can join via an initial nominal registration fee. They can pay the rest of the payments after completing the 2-year program and recruitment.
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.