Saturday, August 20, 2022

Rise Of Eruditus: Edtech Startup

Introduction

Eruditus Executive Education and Emeritus offer world-class business and professional education. Available in the United States, Europe, Latin America, India, and China through its partnerships with top-tier universities. Ashwin Damera and Chaitanya Kalipatnapu founded Eruditus in 2010. More than 250,000 ( two lakhs fifty thousand) individuals across 80 countries educated by Eruditus programs.

Further, they have been in partnership with over 50 universities including MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley, INCAE, IIT, IIM, NUS, and HKUST. Eruditus is a global leader in the $280 billion global professional education market. With offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai.

Previous Year Updates of Eruditus

Leeds Illuminate and Proses Ventures raised $113 million in Eruditus’ Series D round of funding in September of last year. In January last year, the startup closed a $40Mn Series C round led by Sequoia Capital India, valuing it at $400 Million in today’s value.

Recent Updates 

Eruditus raised $650 Million from Accel US and SoftBank Vision Fund II, quadrupling its valuation. It peaked at $800 Million last year to $3.2 billion this year, making it the 22nd unicorn of 2021. The round comes just a few days after upGrad announced its entry into the unicorn club. With Eruditus, India now has four tech unicorns including BYJU’s and Unacademy. SoftBank’s second major bet in India’s edtech space. The Japanese fund is also a backer in Unacademy. A mix of primary and secondary transactions completed by the Canada Pension Plan Investment Board in the startup, said a report by ET. A $430 million investment round to be provided by the startup. While $220 million will be distributed to existing investors. The startup’s two cofounders, Ashwin Dhamera and the top management are liquidating about $100 million in the current round.

Also, Read| HACKERS FIRST STOLE $600 MILLION WORTH OF CRYPTO AND THEN RETURN ON THE REQUEST OF THE EXCHANGE

Dhruv Vashisth
Dhruv Vashisth , is recently persuing his graduation in journalism and mass communication from Management Education and Research Institute affiliated to Guru Gobind Singh Indraprastha University . Dhruv is a Versatile content writer with a incandescence for readings and his area of engrossment in writing falls mostly on the topics of business, sports and entertainment. He is someone who is always excited in Researching new news stories and ideas and is good at managing Multiple priorities cheerfully. Find me on instagram:- _mr.vashisth Mail I'd:- [email protected]

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