Elevate Education, the Gurugram-based higher education platform formerly known as Sunstone, has secured ₹170 crore in a Series D round from WestBridge Capital, an existing backer, as it looks to strengthen its technology stack and deepen AI use across the student lifecycle.
Founded in 2019 by Ashish Munjal, Ankur Jain, and Piyush Nangru, Elevate Education partners with colleges and universities to deliver undergraduate and postgraduate programmes combining industry-oriented curricula, placement support, and technology-enabled student services.
The company currently supports more than 25,000 active students across 22 campuses in 15 cities, and expects to reach ₹300 crore in revenue and profitability in FY27.
“India’s higher education system is at an inflection point,” said Munjal, Co-founder and CEO of Elevate Education. “The future of higher education will not be defined by who awards the degree, but by who delivers the best learner outcomes. This investment from WestBridge Capital strengthens our ability to scale responsibly, invest in innovation, and build one of India’s most trusted higher education platforms.”
Sandeep Singhal, Co-founder and Managing Partner at WestBridge Capital, said the firm believes Elevate Education is “addressing an important opportunity in India’s education ecosystem by improving the quality and relevance of learning at scale.” WestBridge has previously backed companies including Rapido, Meesho, PhysicsWallah, LEAD Group, Star Health, and IndiGo.
The fresh capital arrives as India’s higher education sector undergoes structural change driven by the National Education Policy 2020, which has encouraged multidisciplinary learning, flexibility in degree structures, and wider digital adoption.
Elevate had previously raised close to $70 million from investors including Prime Venture Partners, Alteria Capital, and Saama Capital, with its most recent Series C — a $35 million round led by WestBridge — closing in August 2022.
