October 1, 2020

Eruditus: Leeds, Prosus lead $113-million spherical in edtech agency Eruditus



BENGALURU: Edtech startup Eruditus has raised $113 million in funding led by Leeds Illuminate and South African web large Prosus Ventures (previously Naspers Ventures) with participation from Fb founder and CEO Mark Zuckerberg and Priscilla Chan’s philanthropic organisation, the Chan Zuckerberg Initiative. Present traders Sequoia India and Ved Capital additionally participated within the fundraising.

ET first wrote about this funding spherical on August 29. Folks aware of the deal advised ET that about $20 million of the funding is a secondary money out, whereas $93 million has been infused within the firm.

With the newest funding, the corporate’s valuation has jumped to over $800 million, sources mentioned, making the manager schooling agency among the many most valued edtech startups within the nation.

Eruditus companions with top-tier universities throughout the US, Europe, Latin America, India and China to carry skilled schooling to a world viewers.

“Covid-19 is dramatically accelerating change throughout greater schooling,” mentioned Ashwin Damera, cofounder and chief government at Eruditus. “We’re participating extra deeply with universities worldwide to assist them develop their on-line portfolio and international footprint.” Eruditus has partnered with greater than 30 universities to this point, together with MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley and NUS, launching greater than 100 programs throughout a number of languages.

CZI had backed Byju’s in 2016, its first funding in India and Asia. Prosus Ventures can be an investor in Byju’s.