Elevate Education, formerly known as Sunstone, has raised ₹170 crore in a Series D funding round led by WestBridge Capital, as the Gurugram-based higher education platform accelerates investments in artificial intelligence, technology and institutional expansion.
The company said the funding will help strengthen its technology platform, deepen AI integration across the student journey, expand partnerships with higher education institutions and improve student success and placement outcomes.
Funding to accelerate AI and technology investments
Elevate Education plans to deploy the fresh capital across multiple growth initiatives as it expands its technology-led higher education platform. The company said the investment will be used to:
- Strengthen its technology platform.
- Expand AI capabilities across the student lifecycle.
- Grow its network of partner institutions.
- Enhance student success and placement outcomes.
- Invest further in academic innovation and industry-linked programmes.
The fundraise comes as investor interest gradually returns to India's edtech sector, particularly in businesses focused on higher education, employability and sustainable growth.
Building an industry-focused higher education platform
Founded by Ashish Munjal, Ankur Jain and Piyush Bhartiya, Elevate Education partners with colleges and universities to deliver undergraduate and postgraduate programmes by combining curriculum, technology, placement support and student success initiatives.
The company has focused on helping higher education institutions deliver programmes aligned with evolving industry requirements while improving graduate employability.
Growth targets set for FY27 and FY29
Elevate Education has outlined ambitious growth plans over the next three years. According to the company:
- It expects to achieve ₹300 crore in revenue in FY27.
- It plans to support more than 25,000 active students across 22 partner campuses in 15 cities during FY27.
- The business also expects to turn profitable in FY27.
- By FY29, the company aims to expand to 60,000 students and 40 partner institutions.
- It has set a target of reaching ₹600 crore in revenue by FY29.
The company said AI will play a larger role across the student lifecycle as it scales its platform and expands its reach within India's higher education ecosystem.
Leadership outlines long-term vision
Commenting on the investment, Ashish Munjal, Co-founder and Chief Executive Officer of Elevate Education, said India's higher education sector is entering a period of significant transformation driven by changing employer expectations and rapid advances in artificial intelligence.
He said the company aims to help institutions integrate technology, AI and industry relevance throughout the student learning journey while scaling responsibly through continued investment in innovation.
Sandeep Singhal, Co-founder and Managing Partner at WestBridge Capital, said the investment reflects confidence in Elevate Education's ability to improve the quality and relevance of higher education at scale.
He said the founding team has built the business with strong sector knowledge, disciplined execution and a capital-efficient approach, positioning the company for long-term growth.
WestBridge expands education portfolio
WestBridge Capital has remained an active investor in India's education sector over recent years. The investment in Elevate Education adds another higher education company to its portfolio as it continues backing businesses focused on improving learning outcomes.
The investment also follows WestBridge's earlier backing of PhysicsWallah, where it led the edtech company's first institutional funding round in 2022.