ByteXL raises $9 million in Series B round led by Elevar Equity

ByteXL has raised $9 million in a Series B funding round led by Elevar Equity, as the engineering-focused edtech platform prepares to double its campus footprint and roll out artificial intelligence tutoring tools.

Existing backers Kalaari Capital and the Michael & Susan Dell Foundation also participated in the round. The fresh investment comes eight months after ByteXL picked up $5.9 million in Series A funding led by Kalaari in July 2024.

Founded in 2020 by brothers Karun Tadepalli and Sricharan Tadepalli, the Hyderabad-based startup sells technical training programmes directly to colleges, primarily outside India’s tier-one cities. It currently partners with about 60 colleges across 10 states, reaching roughly 200,000 students on its platform.

Where the fresh capital will go

Chief executive Karun Tadepalli said the company plans to use the money to push into new regional markets, recruit more educators, and upgrade its software stack. Target states for immediate geographic expansion include Odisha, Karnataka, Madhya Pradesh, and Uttar Pradesh.

Over the next two years, the startup aims to scale its network to 120 institutions across 15 states, bringing platform enrolment to roughly 500,000 students.

Product development will lean heavily into generative and agentic artificial intelligence. The startup is integrating tools such as Anthropic’s Claude to build conversational guides that assist undergraduates through coding coursework.

"We are investing heavily on the product, specifically in something like an AI coach/mentor," Tadepalli said, noting that the company is experimenting with agentic workflows designed to tailor learning pathways for individual students.

Financial performance and runway

The funding comes at a time when venture capital flowing into Indian edtech remains selective, with investors steering clear of heavily subsidised consumer-facing models in favour of enterprise and institutional platforms that show clear paths to profitability.

ByteXL operates on an institutional B2B model, charging colleges for curriculum integration and practical skilling modules rather than chasing individual retail learners.

Tadepalli said the business is already profitable on an operating basis, measured by earnings before interest, taxes, depreciation, and amortisation (EBITDA). The company expects to achieve net break-even within the current financial year.