Mumbai-based edtech company byteXL has raised US$9 million in a new funding round led by Elevar Equity, with participation from existing investors Kalaari Capital and The Michael and Susan Dell Foundation. Announced on October 7, 2026, the investment builds on the company's US$5.9 million Series A from July 2024 and supports its work to connect engineering education with employment across India. The capital will help byteXL expand technology and AI skilling programs within colleges, especially in underserved regions.
A Model Built for Tier 2 and Tier 3 Colleges
Founded by brothers Karun and Sricharan Tadepalli, byteXL partners with engineering colleges to integrate industry-relevant technology and AI learning directly into the college experience. Its B2B learning model works with institutions in Tier 2 and Tier 3 cities, embedding curriculum, hands-on learning, technology platforms, and trained educators into regular academic programs rather than treating skilling as an add-on. Last year alone, 7,600 byteXL graduates were placed in IT and engineering roles, showing stronger pathways from education to employment.
Investor Confidence in Scalable Skilling
Elevar Equity's founder and managing partner Sandeep Farias said the firm's investment approach centers on scalable models that accelerate economic momentum for entrepreneurial households. He identified quality education and employability as high-priority investments for families in Tier 2 and Tier 3 communities. byteXL's institutional integration, he added, has clear potential to build a highly scalable platform that empowers technology talent across non-metro India.
Shared Focus on Economic Mobility
Gaurav Jain, head of university success in India at The Michael and Susan Dell Foundation, said engineering degrees represent better economic futures for many first-generation college students. He noted that byteXL brings industry-aligned, hands-on technology and AI learning directly into colleges, helping students get hired and advance. Sampath P, a partner at Kalaari Capital, added that the second round reflects confidence in the team, its proprietary platform, and its rapid growth and ability to achieve profitability.
Expansion Plans and Technology Investments
byteXL will use the new capital to expand its institutional footprint, strengthen its AI and technology-led learning platform, and develop new industry-aligned skilling programs. The company plans to grow from 40 institutions to 120 institutions over the next two years while expanding its reach from 200,000 students to 500,000 students across 15 states. A significant focus will be on market expansion, AI-enabled learning and assessment, student analytics, personalized learning tools, and other digital capabilities designed to improve outcomes at scale.
Building on a Series A Foundation
The latest round follows byteXL's US$5.9 million Series A in July 2024, which was led by Kalaari Capital with participation from the Dell Foundation. That earlier capital supported team expansion, product development, new digital tools, and wider outreach to colleges and universities across India. LoEstro Advisors acted as financial advisors on the current transaction, which represents a larger commitment to the scalability of byteXL's institutional model.
byteXL's latest fundraise positions the company to deepen its impact on engineering education and employment outcomes in underserved regions of India. By expanding institutional partnerships and investing in AI-driven learning tools, the company aims to help more students translate their degrees into meaningful careers. Continued backing from existing investors signals confidence in a model that works inside the established college system to deliver scalable, industry-aligned skilling.