ByteXL, a B2B edtech startup, raised $9 million in a Series B funding round led by Elevar Equity, the company announced this week. Existing investors Kalaari Capital and the Michael & Susan Dell Foundation also participated. The Hyderabad-based firm plans to use the funds to expand its presence across India and invest in AI-led learning tools, cofounder and CEO Karun Tadepalli told economictimes.indiatimes.com.
Founded in 2020 by brothers Sricharan and Karun Tadepalli, ByteXL currently works with about 60 colleges across 10 states and serves 200,000 students. The company aims to increase this to 120 colleges in 15 states and 500,000 students within two years. The startup plans to enter new markets including Odisha, Karnataka, Madhya Pradesh, and Uttar Pradesh. It is also investing heavily in AI-enabled learning products, such as an AI coach/mentor and generative AI tools like Claude, according to Tadepalli.
ByteXL’s latest funding round follows a $5.9 million Series A round led by Kalaari Capital in July 2024. The company is already profitable at the EBITDA level and expects to achieve net break-even this year. The investment reflects growing interest in AI-driven edtech solutions in India, where startups are leveraging AI to enhance personalized learning and scale access. ByteXL’s focus on agentic AI for student learning positions it among emerging players integrating advanced technology into education.
The new capital will support ByteXL’s technology platform development and expansion of its educator network. The company’s goal to reach 500,000 students and 120 colleges by 2028 underscores its growth ambitions. The Series B round led by Elevar Equity marks a key milestone in ByteXL’s journey to deepen its footprint in India’s education sector.