The Gurugram-based Sunstone Eduversity which is an Edtech startup has received funding worth INR 11.35 crore in an investment round led by Prime Venture Partners. The other participants who contributed in the round are LetsVenture, PS Ventures, and Rajul Garg. The startup intends to use the fund to construct colleges across different cities and to boost the technology-based curriculum for creation of industry-ready professionals. The company intends to utilize the fresh investment to increase student enrolments. It also plans on adding two thousand students to its platform covering nine cities in 2020.

The company was founded by Ashish Munjal and Piyush Nangru in the year 2015. Eduversity imparts students with expertise to manage intricacies related to business covering all verticals. The pay-after-placement model that the company offers is based on its partnership with five colleges and private universities spread across three cities. The model helps students to upgrade their skills by providing higher education. In the future, the company has plans of collaborating with ten more colleges. The startup is having tie-ups with many corporate to work on the development in specialties like BFSI, logistics, sales management, digital marketing, and many others.

The requirement of graduates having high-level domain expertise and competencies in core areas has increased with the emerging of new-age businesses. But dearth of finance is one of the major problems that the students face. This is where the business model of the company comes handy. Amit Soni, managing partner of Prime Venture Partners says that there has been hardly any innovation in India for the last few decades, as far as Higher Education is concerned, be it in the curriculum or the methodology. The urgency for the availability of industry-ready professionals has increased with the rapid change in businesses across the world, and this is where Sunstone is helping with its technology-led pedagogy and attractive business model.