Edtech firm byteXL raises $9 million to expand across Indian institutions

byteXL plans to use its latest $9 million funding to expand its institutional footprint across India and broaden the technology supporting its learning platform.

The funding round was led by Elevar Equity, with participation from Kalaari Capital and The Michael & Susan Dell Foundation.

The company will also use the capital to expand its academic and delivery capabilities and develop new industry-aligned skilling programmes.

Expansion across institutions and students

byteXL plans to grow its presence from 40 institutions to 120 institutions over the next two years.

It also plans to expand its reach from 2-5 lakh students across 15 States.

The expansion is expected to include a significant focus on market development, product and technology development, AI-enabled learning and assessment, student analytics, personalised learning tools and other digital capabilities.

The company’s stated plans place institutional growth alongside investments in the systems and tools used to support learning and assessment.

byteXL works with engineering colleges to bring industry-relevant technology and AI learning into the college experience.

Follow-up to 2024 Series A round

The latest fund raise follows byteXL’s $5.9 million Series A round in July 2024.

That round was also led by Kalaari Capital, with participation from the Dell Foundation.

Karun Tadepalli, co-founder and CEO, said the company had grown from establishing its model with engineering institutions to building a scalable business in the skilling space.

“Over the last few years, we have grown from establishing our model with engineering institutions to building a scalable business in the skilling space. The continued backing from our existing investors reflects their confidence in our execution and the strength of the opportunity ahead,” Tadepalli said.

The new funding therefore supports byteXL’s planned move from its existing institutional base towards a wider presence across institutions and students, while adding to its focus on AI and industry-linked skilling.

Source: The Hindu