Exclusive: Mesa School set to raise Rs 100 Cr in Series A; co-founder may sell 2.9% stake

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Bengaluru-based new-age business school Mesa School is set to raise around Rs 100 crore in a Series A funding round, according to sources familiar with the development.
“The round is structured with about Rs 84 crore coming in equity and the remaining Rs 16 crore through venture debt,” a person familiar with the transaction told Entrackr. The funding round is yet to be completed.
Alongside the primary fundraise, Mesa co-founder Varun Limaye is looking to sell around 2.9% of his personal stake in the company for approximately Rs 3 crore through a secondary transaction, sources said.
“The secondary component is being taken up by existing investors who are looking to increase their ownership in the company,” a source familiar with the matter said.
It could not be independently confirmed whether Elevation Capital is participating in the secondary purchase.
The proposed fundraise comes as Mesa expands its offering across startup leadership, entrepreneurship, product and AI. The company currently runs three programmes catering to different learner segments, including fresh graduates and MBA candidates.
Mesa has also seen around 2.5X growth in annual revenue and student enrolments over the past year, according to sources.
“A key part of the growth has been the expansion of the student base as well as the programmes offered by the company,” the source said.
Elevation Capital declined to comment on the story while queries sent to Limaye on Tuesday did not elicit response until publication of the story.
Founded by Ankit Agarwal and Limaye, Mesa had raised around Rs 34 crore ($4 million) in its seed round in April 2023, led by Elevation Capital, with participation from angel investors including CRED founder Kunal Shah, Meesho co-founder Vidit Aatrey and Urban Company co-founder Abhiraj Bhal.
The company operates in India's emerging new-age business education segment, competing with players such as Masters' Union, Altera Institute and Scaler. These platforms combine business education with exposure to technology, product, entrepreneurship and the startup ecosystem.
Invact Metaversity, founded by former Twitter India head Manish Maheshwari and Tanay Pratap, had also targeted the intersection of technology and business education, although its business trajectory has since evolved.

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