New Delhi: Student and alumni ventures from Gurugram-based business school Masters’ Union have raised more than ₹100 crore in institutional venture capital over the past five years, with the ventures reporting a combined annual recurring revenue (ARR) of over ₹70 crore, according to the institution’s entrepreneurship report and internal records.
The institution, which began its first cohort in 2020, said more than 50 student and alumni ventures across six cohorts have raised institutional capital, while two ventures have recorded exits. Five student founders have also appeared on Shark Tank India.
The latest cohort data shows that 22% of Masters’ Union’s 2026 cohort chose to pursue entrepreneurship instead of taking up placements, compared with 7% in 2021. The institution said the shift reflects growing interest among students in entrepreneurship as a first career option.
One of the ventures to emerge from the programme is Eight Network, founded by Yugal Tamang, who was part of the school’s first cohort. The audio-focused company has raised ₹27 crore and reported 5 million downloads, 50 lakh users, 80,000 paying subscribers and ₹13 crore in ARR. Tamang exited the company this year.
Another exit came from SeedAI, an enterprise AI platform founded by Cohort 4 students Vansh Miglani and Shubham Khatri. The company was acquired by Girnar Finserv in November 2025.
The institution’s portfolio also includes Sanyark Space, co-founded by Cohort 3 student Raghava Kundrapu and former ISRO scientist Akhileshwar Reddy. The company is developing a NAV-COM satellite constellation combining precision navigation and IoT communication capabilities. It raised $2 million in a pre-seed round from Avaana and AUM Ventures this year.
At the other end of the portfolio is Meta Fashion, founded by 19-year-old Arjun Goel. The company develops virtual clothing for characters on platforms including Roblox and Fortnite. It raised $400,000 in a pre-seed round led by gaming-focused venture capital firm Lumikai, with participation from Nodwin Gaming’s Akshat Rathee and Masters’ Union founder Pratham Mittal.
Other ventures include PlaySuper, founded by Souradeep Chakraborty and Upmanyu Chatterjee, which has raised ₹13.4 crore and reported ARR of ₹42 crore. The company was included in Forbes Asia’s 30 Under 30 list for 2026.
Fintech and investing education company Bullspree has raised ₹15 crore and crossed ₹10 crore in ARR, while biotech startup Mandrake Bio has raised ₹16 crore for its AI-driven gene-editing platform.
Masters’ Union students have also featured on Shark Tank India. The five ventures listed by the institution are Project Clay, Hive School, Bullspree, Meta Fashion and Hookd. Hookd, founded by Dia Goel and Akul Goel, secured a ₹50 lakh deal for 20% equity from Mamaearth co-founder Varun Alagh during the show’s fifth season. Project Clay secured ₹15 lakh for 10% equity from Namita Thapar during Season 4.
The institution’s founder Pratham Mittal is also a judge on Shark Tank India.
Masters’ Union said its Venture Initiation Programme provides students with grants, mentorship and access to investors while they are enrolled in the programme. The institution was founded in Gurugram in 2020 and follows a “Learn by Doing” model.
More than 50 ventures across six cohorts have collectively raised ₹100 crore or more in institutional capital and reported combined ARR of over ₹70 crore. The two reported exits are Eight Network and SeedAI, while five ventures — Project Clay, Hive School, Bullspree, Meta Fashion and Hookd — have pitched on Shark Tank India.
Among the notable funding rounds, Sanyark Space raised $2 million in pre-seed funding from Avaana and AUM Ventures, while Meta Fashion raised $400,000 in a pre-seed round led by Lumikai. Eight Network has raised ₹27 crore, PlaySuper ₹13.4 crore, Bullspree ₹15 crore and Mandrake Bio ₹16 crore. SeedAI had raised ₹1.7 crore before its acquisition by Girnar Finserv in November 2025. Hookd secured ₹50 lakh for 20% equity from Varun Alagh on Shark Tank India, while Project Clay secured ₹15 lakh for 10% equity from Namita Thapar.
