Breaking News: Eruditus, Indian Edtech Startup, Nears $150 Million Funding Round With TPG Leading Investment
Eruditus, a prominent Indian edtech startup, is on the brink of securing a substantial $150 million in new funding, according to sources familiar with the matter. TPG, a major player in private equity, is set to lead the investment, which could value Eruditus at up to $2.3 billion. However, the startup must meet specific performance targets to maintain this valuation, as failure to do so could result in a decrease to at least $1.8 billion.
Founded 14 years ago, Eruditus partners with renowned global universities to offer executive education programs for businesses and individuals, with a significant portion of its revenue coming from international markets. The potential investment comes at a critical time for the edtech sector, which has been struggling post-pandemic due to the return to in-person learning.
With the Indian edtech market still reeling from the recent troubles at Byju’s, this funding round could provide a much-needed boost to the industry. Byju’s, once valued at $22 billion, is currently facing legal and governance issues, raising concerns about its future.
Overall, this development highlights the ongoing evolution and challenges within the edtech sector, as well as the importance of strategic investments in driving growth and innovation in the industry. Stay tuned for more updates on this unfolding story.