Elevate Education raises Rs 170 crore from WestBridge Capital

New Delhi: Elevate Education, formerly known as Sunstone, raised Rs 170 crore in a Series D funding round led by WestBridge Capital to accelerate the expansion of its AI-powered higher education platform. The Gurugram-based edtech company said the fresh capital will be used to strengthen its technology and AI capabilities, expand its partner institution network, enhance student success and placement outcomes, and invest in academic innovation and industry-focused programmes. The fundraise follows a period of growth for the company, during which it expanded its student base, institutional partnerships, and revenues. 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 expects to achieve Rs 300 crore in revenue in FY27, support 25,000 active students, partner with 22 campuses across 15 cities, and turn profitable during the financial year. Elevate Education plans to scale to 60,000 students and 40 partner institutions by FY29, while targeting Rs 600 crore in revenue. Speaking on the fundraise, Ashish Munjal, Co-founder and CEO of Elevate Education, said, "India's higher education system is at an inflection point. The future of higher education will not be defined by who awards the degree, but by who delivers the best learner outcomes. As AI reshapes industries and employer expectations evolve, institutions need to continuously reinvent how students learn, build skills, and prepare for careers. At Elevate Education, our mission is to help make that transformation possible by partnering deeply with institutions and bringing technology, AI, and industry relevance into every stage of the student journey. 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." Speaking on the investment, Sandeep Singhal, Co-founder and Managing Partner, WestBridge Capital, said: “We believe Elevate Education is addressing an important opportunity in India’s education ecosystem by improving the quality and relevance of learning at scale. Ashish, Ankur, and Piyush, along with the broader team, have built the company with a deep understanding of the sector, disciplined execution, and a capital-efficient approach. We believe the company is well positioned for long-term growth and are pleased to partner with them on this journey.” The company said it plans to deepen AI integration across the student lifecycle as it seeks to build a technology-led higher education platform focused on employability and career outcomes.