Indian edtech company byteXL has raised $9 million in a funding round led by Elevar Equity. It plans to increase its network of partner institutions from 40 to 120 over the next two years.
Kalaari Capital and the Michael & Susan Dell Foundation also participated in the round. byteXL said it would use the funding to expand in India and develop technology-led learning, including AI-enabled assessment and student analytics.
The company also plans to grow its reach from 200,000 to 500,000 students across 15 States and expand its academic and delivery teams. It works with engineering colleges on programmes aligned with industry needs.
Co-founder and CEO Karun Tadepalli said byteXL had evolved from establishing its model with engineering institutions into a scalable business in the skilling sector. He said continued backing from existing investors reflected their confidence in the company’s execution and the opportunity ahead.
The new round follows a $5.9 million Series A financing in July 2024, also led by Kalaari Capital with participation from the Michael & Susan Dell Foundation.