The Gurugram-based company, formerly known as Sunstone, is targeting Rs 300 crore in revenue and 25,000 active students in FY27 while pushing toward profitability for the first time
Elevate Education, the Gurugram-based higher education platform that rebranded from Sunstone, has closed a Rs 170 crore Series D funding round from WestBridge Capital, one of India’s most active growth-stage investors. The round arrives as the company positions AI as the central thread running through everything from personalised learning to career guidance and placement support.
What Elevate Education Actually Does
The company works with universities and colleges throughout India in order to provide undergraduates and postgraduates with services that mix education, industrial training, help with placements, and support from new-age technology. The business model aims to bridge the gap between the higher education institutions and what employers want to hire in terms of skilled workforce, a problem that has faced the sector for many years and has been emphasized by the National Education Policy 2020.
Where the Capital Goes
The capital will allow Elevate to boost its integration of AI throughout the complete student lifecycle, expand partnerships with educational institutions, and invest more in innovative studies that meet the demands of the industry. Currently, Elevate collaborates with 22 campuses located in 15 cities and is planning to reach 25,000 enrolled students by FY27, generating revenue of Rs 300 crores. It is also expected to turn profits for this financial year, which would be very important for the industry that is slowly regaining investors’ trust after its collapse following the pandemic.
The Longer Road
By FY29, Elevate is targeting 60,000 students, 40 partner institutions, and Rs 600 crore in revenue. WestBridge, which has previously backed Rapido, Meesho, PhysicsWallah, and Star Health among others, described Elevate as well-positioned for long-term growth in a higher education market it sees at a genuine inflection point.
CEO Ashish Munjal stated that the whole point of Elevate’s aim is defining a new way of assessing the education industry. In the opinion of Munjal, the future of education lies not in the authority that awards the degree, but in the institution that achieves the best outcomes for its students.
