Sunstone Eduversity is a platform founded by former students of IMT- Ghaziabad, Ashish Munjal, and Piyush Nangru, in 2015.
The startup focused on students to help them tackle future business problems across various areas. With 54 members in 2019, Sunstone Eduversity was able to raise INR 11.3 crore from various investors in a seed round.
Prime Venture Partners led the early-stage funding round. It was carried along with Lets Venture, PS1 Venture, and Rahul Garg.
Sandstone is a startup from Gurugram running professional education programs for students. They work with the partnership colleges running the admission program, designing, education content, and placements by itself.
The startup has received 10, 000 applications compared to just 2500, last year.
“The biggest positive of our course is we offer pay after placement, which means students can do the course by just paying an admission fee. Once they get placed after two years, we charge 10 times their monthly salary, at which they get placed. Since our revenues depend on their jobs we work very hard to get them placed at the right place and at the right salaries,” said Piyush Nangru, co-founder of Sunstone Eduversity.
The starter with its clutches in the market has placed the 40 students from the first batch and is aiming for 2000 students in batch 2020-21. They had 300 students in the 2019 batch.
Some of the recruiters for the batch of 40 students were- Axis Bank, HDFC, WNS, Genpact, Amazon, TCS, Karvy, Byjus, Reliance Retail, PolicyBazaar, and Swiggy.
Sunstone Eduversity Raises INR 24 Crore From Saama Capital
The startup is now planning to expand to 15 cities. With series A funding, Sunstone Eduversity has raised INR 24 Crore.
VC Circle has, according to a few reports, also approached Sunstone.
With the involvement of Ashish Gupta, MD- Helion Adventures, and Pankaj Bansal, CEO- PeopleStrong, the funding was led by Saama Capital.
Notable figures from the existing investors like Prime Venture Partners, Rahul Garg, and Poorvi Capital were also present in the series A funding round.
Currently, Sunstone Eduversity is equipped with students and partnerships with 5 colleges and private universities within a limit of three cities.
They will soon be extending the partnership with 10 colleges to develop specializations in BFSI, Logistics, Analytics, Sales Management, Digital Marketing and various other platforms to enhance the ability of students to tackle future business problems.
Sunstone Eduversity focused on students’ placements rather than financial roles.
According to the startup, the student has to worry about completing their course rather than the financial stability at his or her current state.
After the placements only, the student will be required to pay the fee. Fees can be paid in installments and various finance help is also provided to students for the fee.