byteXL Raises $9 Million Led by Elevar Equity to Take AI Skilling to Tier II and III Engineering Colleges

Hyderabad-based B2B edtech startup byteXL has raised $9 million (about ₹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 announcement was made on 7 October 2026.

The fresh capital will be used to expand byteXL's institutional footprint, strengthen its AI and technology-led learning platform, build academic and delivery teams, and develop new industry-aligned skilling programmes. Over the next two years, the company plans to grow its network from 40 institutions to 120 and expand its reach from 2 lakh to 5 lakh students across 15 states.

Founded in 2019 by brothers Karun and Sricharan Tadepalli, byteXL works with engineering colleges — particularly in Tier II and III cities — to integrate technology and AI skilling into the regular academic curriculum. Its hybrid B2B model combines industry-aligned curriculum, hands-on learning, technology platforms and trained educators within students' four-year engineering journeys. The startup says 7,600 of its graduates secured IT and engineering jobs last year.

The round follows a $5.9 million Series A in July 2024, which was led by Kalaari Capital with participation from the Dell Foundation. "As we enter our next phase of growth, our focus will be on expanding our institutional footprint, deepening our technology and AI capabilities, and building byteXL into a larger and more impactful player in India's technology education ecosystem," Karun Tadepalli said.

Sandeep Farias, founder and managing partner of Elevar Equity, said the firm's investment approach centres on "backing scalable models that accelerate the economic momentum of entrepreneurial households". The fundraise comes amid a prolonged funding slowdown and consolidation in India's edtech sector, including upGrad's acquisition of Unacademy during Q3 2026.