Mesa School of Business Raises ₹110 Cr in Equity and Debt Funding

Mesa School of Business, a Bengaluru-based business school focused on startups, entrepreneurship and AI-driven education, has raised ₹110 crore through a combination of equity funding and venture debt.

The round includes approximately ₹85 crore in Series A equity funding co-led by Dharana Capital and existing investor Elevation Capital. InnoVen Capital and Alteria Capital provided the remaining ₹25 crore through venture debt.

According to the company, the funding values Mesa School of Business at ₹385 crore. The fresh capital will support curriculum development, new academic programmes and partnerships across the startup ecosystem.

Investors back an AI-first business education model

Founded in 2023 by Ankit Agarwal and Varun Limaye, Mesa School of Business aims to prepare undergraduates, fresh graduates and early-career professionals for careers in startups, leadership and entrepreneurship.

The company also has backing from prominent founders, including Kunal Shah of CRED, Vidit Aatrey of Meesho, Abhiraj Bhal of Urban Company and Vijay Shekhar Sharma of Paytm.

Mesa plans to use the new funding to develop an AI-first curriculum for its existing programmes, introduce new courses and build closer relationships with startups.

Its approach combines classroom learning with practical experience. Students are expected to build and operate small businesses and learn to use AI tools to develop and launch technology products.

From one cohort to more than 550 students

Mesa says it has expanded from a single postgraduate cohort to more than 550 students across three programmes.

These include a one-year Post Graduate Programme in Startup Leadership, a four-year undergraduate programme focused on business and entrepreneurship, and Forge, a one-year programme for fresh graduates.

The institution's model places significant emphasis on practical projects and direct exposure to founders. According to the company, more than 100 founders have taught on campus, while students have completed over 200 projects with startups.

The aim is to help students develop business skills through real-world work rather than relying exclusively on traditional classroom instruction.

Placement outcomes and student startups

Mesa reported that students from its first two postgraduate cohorts secured an average cost to company (CTC) of ₹26 lakh, while the top 25% averaged ₹36.5 lakh.

The company said all placed students from these cohorts joined startups, including Zomato, Zepto, Urban Company, Scapia and Comet. Around 58% took up founder-facing roles, according to Mesa.

The institution also says nearly 20% of graduates have become entrepreneurs.

More than 50 student startups are currently incubated through Mesa Startup Lab, its in-house startup residency programme. These businesses have collectively raised over ₹25 crore in funding and grants and have an annual revenue run-rate exceeding ₹50 crore, according to the company.

These figures illustrate the outcomes Mesa is highlighting as it develops an alternative to conventional business education. However, placement figures and startup performance metrics are company-reported and should be assessed alongside cohort sizes, employment definitions and longer-term results.

Where the ₹110 crore will go

The new capital is expected to support three priorities: improving the AI-first curriculum, launching and scaling additional programmes, and strengthening partnerships with startups.

The equity component provides growth capital, while the venture debt adds financing without requiring the entire amount to come from equity investors.

Mesa's expansion comes as AI tools change how companies develop products, run operations and build businesses. This creates demand for graduates who can combine business judgement, technical fluency and practical execution.

For Mesa, the challenge will be scaling its programmes while maintaining the practical learning model that distinguishes it from more traditional institutions. Its ability to deliver consistent student outcomes and develop a strong network of startup employers and founders will be important as it grows.