ByteXL has raised USD 9 million in its latest funding round led by Elevar Equity, with participation from Kalaari Capital and The Michael & Susan Dell Foundation.
The latest fundraise, for which LoEstro Advisors acted as the financial advisors, follows ByteXL’s USD 5.9 million Series A round in July 2024. Kalaari Capital also led that round, with participation from the Dell Foundation.
The company will deploy the fresh capital to expand its institutional footprint across India, strengthen its AI and technology-led learning platform, enhance its academic and delivery capabilities, and develop new industry-aligned skilling programmes.
ByteXL aims to increase its presence from 40 institutions to 120 institutions over the next 2 years. At the same time, it plans to expand its reach from 2 lakh students to 5 lakh students across 15 states of India.
Founded by brothers Karun and Sricharan Tadepalli, ByteXL collaborates with engineering colleges to integrate industry-relevant technology and AI learning into the college experience. Through this approach, the company enables more students to develop practical skills alongside their degrees and translate their education into strong careers.
Sandeep Farias, Founder and Managing Partner, Elevar Equity, said, “At Elevar, our investment approach is centered on backing scalable models that accelerate the economic momentum of Entrepreneurial Households (EHs). Quality education and employability are among the highest-priority investments for EHs, particularly across Tier-2 and Tier-3 communities. What stands out to us is byteXL’s institutional integration and clear potential to build a highly scalable, differentiated platform that empowers the next generation of tech talent across non-metro India.”
Speaking on the development, Karun Tadepalli, Co-Founder & CEO, byteXL, said, “This fundraising is a strong validation of the growth we have built at byteXL and the confidence our investors have placed in our business and the long-term opportunity. 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. As we enter our next phase of growth, our focus will be on expanding our institutional footprint, deepening our technology and AI capabilities, and building byteXL into a larger and more impactful player in India’s technology education ecosystem.”
