Edtech company byteXL has raised $9 million in a funding round led by Elevar Equity with participation from Kalaari Capital and The Michael & Susan Dell Foundation.

The company will use the new capital to expand its institutional footprint across India, strengthen AI and technology-led learning platform, expand academic and delivery capabilities and develop new industry-aligned skilling programmes. It plans to grow its presence from 40 institutions to 120 institutions over the next two years, while expanding its reach from 2-5 lakh students across 15 States.

A significant focus of the investment will be on market expansion, product and technology development, including AI-enabled learning and assessment, student analytics, personalised learning tools and other digital capabilities. The latest fund raise follows the $5.9 million Series A round in July 2024, also led by Kalaari Capital, with participation from the Dell Foundation.

“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,” said Karun Tadepalli, co-founder and CEO. byteXL works with engineering colleges to bring industry-relevant technology and AI learning into the college experience.