Sunstone Education Technology, a Delhi-based startup that offers industry-ready education programmes in partnership with colleges under the brand Sunstone Eduversity, has raised about $1.5 million in a seed round led by Prime Venture Partners.
Angel investing platform LetsVenture, PS1 Ventures and Leo Capital founder and managing partner Rajul Garg participated in the round, the company said in a statement.
The seed round capital will be used to grow its network of partner colleges across cities and beef up its technology and curriculum. It aims to add more than 2000 students across nine cities in 2020, the statement added. The company currently has 300 students enrolled at five partner colleges across three cities.
“We are making higher education accountable. Our model is able to produce industry-ready professionals who can start contributing towards an organization’s success right from the beginning,” founder Ashish Munjal said. Munjal founded the company with Piyush Nangru about a year ago.
The company claims to offer the country’s only pay-after-placement formal education programme. Its programmes cover sectors and functions such as banking and financial services, logistics, sales management and digital marketing. A nominal registration fee is charged at the time of enrollment for the two-year full-time programme. Students are required to pay the course fee after they complete the course and get a job, the company claims.
Apart from Sunstone, Prime Venture’s other investment in the edtech space is gamified learning startup Quizizz. The Bengaluru based venture capital firm is currently investing from a $60 million fund raised last year. It typically invests at the seed and Series A stages in sectors such as fintech, healthcare, logistics and SaaS (software-as-a-service).