The edtech startup Eruditus (1) has secured 113 Million USD in its Series D funding round. Leeds Illuminates and Prosus Ventures, formerly known as Naspers Ventures, led the latest funding round. The Chan Zuckerberg Initiative (CZI), a non-profit organization of Mark Zuckerberg, CEO of Facebook, and his wife Priscilla Chan, also participated in the latest round.
The existing investors of Eruditus also participated in the round, including Sequoia India and Ved Capital. As per the entity’s official press release, Avendus Capital was the startup’s exclusive financial advisor.
The startup plans to utilize the latest capital to increase its engagement with its existing and new partners. It aims to root its operations in the emerging market while also investing in career-ready courses. It would meet the skills needed for the workforce across the globe in the post-COVID world.
Eruditus to Expand Its Online Portfolio, Global Footprints
As per the media reports, the startup’s valuation is doubled from 400 million USD to 800 Million USD with the latest funding round. In January, the valuation of the edtech startup stood at 400 million USD. The value was increased to 40 million USD after Sequoia Capital India led its funding round Series C, the previous round. The existing investor Bertelsmann India Investment also participated in the funding round.
Chaitanya Kalipatnapu and Ashwin Damera founded Eruditus in 2010. Its startup offers executive education programs in association with global business institutes. It includes schools like MIT, Columbia, INSEAD, Harvard Business School, London Business School, Berkeley, Wharton, etc. These programs are six to eight months in duration available on on-campus, off-campus, and online modes.