Polaris School of Technology (PST) is a Bengaluru-based work-integrated 4-year B.Tech program launched in May 2024 as an initiative of the Indian edtech company Classplus.

This Startup Deep Dive explains what Polaris School of Technology does, how it makes money, who backs it, how it compares with rivals and what could go wrong, using publicly available information. It is educational and not investment advice. Last updated: October 2026.

Polaris School of Technology in Brief

• What it is: Polaris School of Technology is an Indian Undergraduate tech education (edtech) company based in Bengaluru.
• Who it serves: businesses, institutions, consumers, learners and public-sector buyers.
• Runs a 4-year work-integrated B.Tech with specialisations in Computer Science, AI and Machine Learning.
• Provides about 5,000 hours of live coding, with internships from the second year.
• Faculty include IIT alumni, tech leaders, CTOs and founders offering 1:1 mentorship.
• Funding: Not disclosed in public sources reviewed.

Polaris School of Technology Quick Facts

Figures marked “reported” come from published reports and may differ between sources; “Not disclosed” means no reliable public figure was found.

What Is Polaris School of Technology?

Polaris School of Technology operates in the Undergraduate tech education (edtech) space in India. Understanding a company like this starts with three questions: who is the customer, what painful problem is being solved, and why the solution is better than the alternatives. The sections below apply that lens to Polaris School of Technology.

• Runs a 4-year work-integrated B.Tech with specialisations in Computer Science, AI and Machine Learning.
• Provides about 5,000 hours of live coding, with internships from the second year.
• Faculty include IIT alumni, tech leaders, CTOs and founders offering 1:1 mentorship.
• Runs an incubator, Polaris Tech Combinator, where students can pitch startups and raise seed funding of up to $10,000.
• Offers scholarships up to 100% of fees (merit-cum-need, merit, tech entrepreneur, women-in-tech).

The Origin Story of Polaris School of Technology

Every company starts from a noticed gap and a team willing to commit to closing it. Strong origin stories are specific: a clear problem, a founding team with relevant skills, and an early product that real customers could test. Founder-market fit, meaning the team’s lived experience or technical depth in the domain, tends to predict how fast a young company learns.

• Founders: Mukul Rustagi, Bhaswat Agarwal.
• Launched around 30-31 May 2024 by Classplus co-founders Mukul Rustagi and Bhaswat Agarwal.
• Created to close the gap between industry needs and job readiness of graduates from traditional B.Tech programs.
• This is a brand/initiative of parent company Classplus; funding and financials below belong to the parent.
• One comparison site says it was formerly FunctionUp School of Technology and was acquired by Classplus in 2024, which conflicts with launch coverage (reports differ).

Key Milestones and Challenges

No startup grows in a straight line. Early years usually involve slow adoption, product rewrites, hiring mistakes and funding gaps. In the Undergraduate tech education (edtech) sector the common turning points are a first paying customer, a regulatory approval, a successful product demonstration or a funding round that lets the team invest ahead of demand. How a team responds to setbacks says more about resilience than any single headline.

• May 2024: Launch of PST and opening of admissions for the first batch.
• Scholarships up to 100% announced for the upcoming batch.
• Polaris Tech Combinator incubator offered to students.

Polaris School of Technology Funding and Investors

Funding history shows how much outside confidence a company has attracted and how long it can operate before needing more capital. Figures below are reported and may differ between sources; valuation figures are estimates unless the company has confirmed them.

• No separate funding for PST found.
• Parent Classplus: about $150M+ raised per launch coverage, about $158M per another profile, from investors including Tiger Global, Alpha Wave, Blume Ventures, RTP Global, Sequoia Surge, Times Internet and Chimera Ventures; last round March 2022.

How Does Polaris School of Technology Make Money? (Business Model)

A business model describes who pays, how often and how much it costs to serve them. Strong models show repeat usage, improving margins with scale and acquisition channels that do not depend only on paid spend. Weak models show one-off sales, rising costs and growth that stops when spending stops. For companies selling to businesses, institutions, consumers, learners and public-sector buyers, sales cycles and contract size matter as much as headline growth.

• Tuition-based B.Tech degree; fee amounts and batch size are not stated in sources read.
• Scholarship and fee-waiver structure used to attract students.
• Parent-backed: Classplus provides brand and resources.

The Numbers: Polaris School of Technology Financials

Financial figures show whether growth is turning into a self-sustaining business. Small and private companies often disclose little, so any number below is included only if it was found in public reporting.

• PST-specific revenue and profit not found.
• Parent Classplus FY24: revenue from operations about Rs 213 crore (up from Rs 102 crore in FY23); net loss about Rs 110 crore, down about 57%. Another profile shows Rs 264.7 crore including other income (reports differ).

Market Opportunity for Polaris School of Technology

Market size is easy to exaggerate, so a useful approach separates the total market from the portion a company can realistically reach with its current product and distribution. The main forces behind demand in this sector are rising digital adoption, cloud and mobile penetration, growing enterprise technology spending, government digitisation programmes and a deep pool of engineering talent. Each of these widens the opportunity, but capital efficiency and execution decide who captures it.

• New-age school-of-technology B.Tech programs competing with traditional engineering colleges in India.

Technology and Product at Polaris School of Technology

Technology is rarely the whole moat, but it drives speed, cost and customer experience. A practical way to assess it is to separate the capability the company controls from the commodity infrastructure it rents. In this sector the important factors are product quality, data and integration depth, security, scalability and the speed of shipping improvements.

• Curriculum centred on live coding, AI and machine learning; no proprietary platform details found.

Team and Culture at Polaris School of Technology

Teams are the most important and least measurable asset of a young company. Look at how complementary the founders’ skills are, how deep the second layer of leadership is, and how the company hires and retains specialists. Culture shows up in small repeated behaviours: how quickly bad news travels upward and whether commitments to customers are kept.

• Co-founders Mukul Rustagi and Bhaswat Agarwal, also founders of Classplus.
• Faculty from IIT alumni, CTOs and founders.

Polaris School of Technology Competitors: Competitive Landscape

A fair competitive analysis names direct rivals, adjacent players who could move into the space, and the customer’s default alternative. Durable advantages include proprietary data or technology, licences and approvals, brand trust, switching costs and cost leadership.

Risks and Challenges for Polaris School of Technology

• New and unproven outcomes data for graduates.
• Competition from similar new-age tech schools.
• Degree recognition and regulatory approvals are not detailed in sources read.
• Parent Classplus continues to report losses.
• Competition: low barriers to entry and well-funded rivals can compress pricing and slow growth.
• Funding risk: technology businesses often burn cash before reaching profit and depend on investor appetite.

Risk is not a reason to avoid a company; it is a reason to price it correctly and to monitor the right indicators over time. Regulation in this sector is shaped by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Polaris School of Technology Growth Outlook: What to Watch

• Further batches and scholarships signal continued push; no enrolment figures found.
• Key indicators: recurring revenue, customer retention, gross margin, customer acquisition cost and runway.
• Funding position: Whether Polaris School of Technology can reach its next milestone before needing new capital.
• Regulation: Changes from data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules.

Industry Context: Where Polaris School of Technology Fits

India's technology startup ecosystem is one of the largest in the world, supported by cheap data, a large base of smartphone users, digital public infrastructure and a deep engineering talent pool. Companies now build for education, software, mobility, logistics, agriculture, defence, media and more, selling both to Indian customers and abroad.

Durable technology companies usually combine a clear customer problem with repeatable distribution and disciplined unit economics. Growth funded only by spending tends to fade, while products that customers keep using and paying for build compounding advantages.

For readers new to this field, a useful habit is to separate announcements from evidence. A plan, a partnership or a funding headline describes intent, while a delivered product, a paying customer or an audited financial statement describes results. Comparing the two over time shows how reliably a company turns promises into outcomes.

Bull Case and Bear Case for Polaris School of Technology

An investment thesis is a short, testable statement of why a company could become far more valuable, together with what evidence would prove it wrong. The points below are general to this sector and are not forecasts for Polaris School of Technology.

Bull case

• A large and growing base of digital users and businesses expands the addressable market.
• Recurring revenue and strong retention can compound growth.
• Selling into global markets widens the opportunity beyond India.

Bear case

• Heavy competition can compress pricing and margins.
• Dependence on external funding can force painful cost cuts.
• Regulation or platform changes can disrupt a product quickly.

Lessons Founders and Investors Can Take from Polaris School of Technology

Studying a company in the Undergraduate tech education (edtech) space offers lessons that go beyond any single firm. The points below are general lessons for the sector and are not claims about Polaris School of Technology.

• Solving a clear, frequent customer problem matters more than adding features.
• Retention and repeat usage are better health signals than sign-ups.
• Disciplined spending extends runway and keeps options open when funding tightens.
• Distribution, not just product quality, decides who wins in crowded markets.
• Building trust through data protection and reliability is part of the product.

How to Evaluate Polaris School of Technology as a Startup

• Customer clarity: Can Polaris School of Technology name its customer and the problem it solves in one sentence?
• Evidence of demand: Look for repeat customers, signed contracts or measurable usage rather than announcements alone.
• Economics: Check whether margins improve as volume grows.
• Execution: Compare announced timelines with what has actually been delivered.
• Funding runway: Estimate how long current capital lasts at the present spending rate.
• Regulatory standing: Confirm required approvals are in place.
• Customer concentration: Check whether a few customers account for most of the revenue.
• Management depth: Look for experienced leaders beyond the founders and a stable core team.

The Takeaway

Polaris School of Technology is part of India’s growing Undergraduate tech education (edtech) ecosystem. The useful lesson from studying it is the discipline of asking structured questions about customers, economics, advantage and resilience. Companies that answer them well, repeatedly and under pressure are the ones that endure. Readers should treat any single report, ranking or funding headline as one input among many, and should re-check key facts against recent company announcements. Because public information on young companies is often limited, patience in verifying claims is part of good analysis. Public sources can also describe the same company in different ways, so it is worth checking dates, definitions and whether a figure refers to revenue, total income or transaction value, and whether it covers one entity or a wider group, before drawing conclusions. Small differences in rounding, currency conversion or reporting periods can also change how a figure reads. Comparing the same figure across several recent reports helps show whether it is stable or has changed over time. This article is educational and is not investment advice.

• Clear customers and repeat demand matter more than announcements.
• Regulation and capital needs shape how fast a startup in this sector can grow.
• Track a few leading indicators over time rather than one headline metric.

Polaris School of Technology FAQs: Frequently Asked Questions

What is Polaris School of Technology?

Polaris School of Technology (PST) is a Bengaluru-based work-integrated 4-year B.Tech program launched in May 2024 as an initiative of the Indian edtech company Classplus. It is profiled in the Startup Deep Dive series, which explains business model, funding, competitors and risks.

Who founded Polaris School of Technology?

Polaris School of Technology was founded by Mukul Rustagi, Bhaswat Agarwal, and the company reports a founding year of 2024.

How much funding has Polaris School of Technology raised?

No reliable total funding figure is disclosed in the public sources reviewed. Funding figures are reported and may differ between sources, so readers should check the latest company announcements.

How does Polaris School of Technology make money?

Polaris School of Technology earns revenue from its Undergraduate tech education (edtech) products and services sold to businesses, institutions, consumers, learners and public-sector buyers. The exact revenue mix is described in the business model section and is not fully disclosed publicly.

Who are the competitors of Polaris School of Technology?

Reported rivals include Scaler School of Technology, Newton School, NxtWave. See the competitor comparison above for how they differ.

What are the main risks for Polaris School of Technology?

Main risks include competition: low barriers to entry and well-funded rivals can compress pricing and slow growth, funding and capital needs, competition and regulation by data protection rules under the Digital Personal Data Protection Act, sector regulators, consumer protection law and IT rules. This is educational content, not investment advice.

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Source

Source: Publicly available data, published reports, industry research, and other credible sources.