byteXL Raises $9 Million in Funding Led by Elevar Equity
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Khushi Jain
- October 7, 2026
Hyderabad-based B2B edtech startup byteXL has raised $9 million, or about Rs 86.7 crore, in a funding round led by Elevar Equity, with participation from existing investors Kalaari Capital and The Michael & Susan Dell Foundation.
The startup will use the fresh capital to expand its college network, strengthen its technology and AI learning platform, build its academic and delivery teams, and introduce industry-aligned skilling programmes.
Over the next two years, byteXL plans to increase its network from 40 institutions to 120 and expand its reach from 2 lakh students to 5 lakh across 15 states. It also plans to strengthen its institutional partnership teams to support the expansion.
The latest investment follows byteXL’s $5.9 million Series A round in July 2024, which was led by Kalaari Capital with participation from The Michael & Susan Dell Foundation.
Founded in 2019 by brothers Karun and Sricharan Tadepalli, byteXL works with engineering colleges, particularly in Tier II and III cities, to integrate industry-relevant technology and AI training into students’ regular coursework.
Its B2B model combines curriculum, hands-on learning, technology platforms and trained educators within the college system. The startup said 7,600 of its graduates secured IT and engineering jobs last year.
byteXL operates in the broader skilling and employability segment alongside players such as Emversity, Seekho.ai, SmartBridge, iNurture, Board Infinity and Imarticus Learning.
The fundraise comes amid a prolonged funding slowdown and consolidation in India’s edtech sector. According to Inc42’s ‘Indian Tech Startup Funding Report, Q3 2026’, the sector recorded three acquisitions during the quarter, including upGrad’s $200-210 million acquisition of Unacademy and Imarticus Learning’s $84 million acquisition of BELLS.
Meanwhile, IMARC estimates India’s edtech market to grow from $4.60 billion in 2026 to $33.31 billion by 2034, at a CAGR of 27.94% during 2026-2034.
FAQs
1. How much funding has byteXL raised?
byteXL has raised $9 million, or about Rs 86.7 crore, in a funding round led by Elevar Equity.
2. Who participated in byteXL’s latest funding round?
The round was led by Elevar Equity, with participation from existing investors Kalaari Capital and The Michael & Susan Dell Foundation.
3. How many institutions does byteXL plan to reach?
byteXL plans to grow its network from 40 institutions to 120 over the next two years.
4. How many students does byteXL currently reach and what is its target?
The startup plans to expand its reach from 2 lakh students to 5 lakh across 15 states over the next two years.
5. Who founded byteXL?
byteXL was founded in 2019 by brothers Karun and Sricharan Tadepalli.
