Mesa School of Business Raises ₹110 Crore to Train Startup Leaders

On Tuesday, Oct. 13, 2026, Bengaluru-based Mesa School of Business announced that it has raised ₹110 crore, or about $11.4 million, in a mix of equity and debt. The school, which trains people to work in and lead startups, plans to use the money to bring more AI into its programs, deepen ties with startups and launch new courses.

What happened

According to Inc42 and Entrackr, the funding breaks down as follows:

• Equity: About ₹85 crore in a Series A round, co-led by Dharana Capital and existing backer Elevation Capital.
• Debt: ₹25 crore in venture debt from InnoVen Capital and Alteria Capital.

Entrackr reported that the round values the school at ₹385 crore, and Inc42 put that at about $40 million, citing co-founder Ankit Agarwal. Mesa previously raised ₹34 crore in 2023, led by Elevation Capital, with angel investors including Kunal Shah, the founder of CRED, and Meesho co-founder Vidit Aatrey.

Mesa was founded in 2023 by Agarwal and Varun Limaye. It does not employ full-time faculty. Instead, it relies on startup founders, executives and industry experts to teach. It runs three main programs:

• A one-year postgraduate program for experienced professionals, focused on startup leadership
• Forge, a one-year program for recent graduates
• A four-year undergraduate program in business and entrepreneurship

Entrackr reported that Mesa has more than 550 students. According to Inc42, its first three postgraduate groups have produced about 300 graduates, who have joined more than 120 startups, and the school says it has incubated more than 50 student startups. Inc42 reported that Mesa is not yet profitable, although most of its programs are said to be near operating breakeven.

Explaining why the school exists, Agarwal told Inc42, "If you want to go and work in a startup, there is no one place which sort of builds the right network." He added that traditional institutions "just don't have the capability or the incentives to keep changing their curriculum."

Why it matters

Startups need people who can move fast, wear many hats and work with new tools such as AI. Traditional business schools were not built for that. Mesa's model, which uses working founders and operators as teachers, is a bet that practical, up-to-date training is worth paying for.

The raise also shows that investors still back education businesses when they are tied closely to jobs and outcomes. Mesa's focus on placing graduates in startups and helping students launch their own companies gives it a clear story to tell.

Its plan to build AI into the curriculum reflects a wider shift. Knowing how to use AI tools is quickly becoming a basic skill for anyone who wants to start or run a business.

The mix of funding is worth noticing too. By combining equity with venture debt, Mesa raised a sizable amount while giving up less ownership than an all-equity round would require. That is a common approach for businesses that already have steady revenue from tuition and want to grow without heavy dilution.

What this means for founders and builders

Education built around real-world skills is a growing market, and it is not limited to big institutions. Online courses, coaching platforms, learning apps and AI tutors can all serve learners who want practical results.

If you want to enter the education space, you do not have to start from zero. Math Master Lab is a complete mathematics learning platform that is available to acquire, and our full acquisitions page lists other finished products. If you have your own idea for a learning product, a custom build can bring it to life.

For aspiring founders, Mesa's story also carries a simple message: the skills to build a company can be learned, and the best teachers are often people who have done it themselves.

The bottom line

Mesa School of Business has raised ₹110 crore to grow a school that trains people for startup life, with a new focus on AI. It is a sign that practical, outcome-focused education is attracting serious investment, and that the market for teaching people how to build is only getting bigger.

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