Indian edtech company Eruditus has raised $150 million in its latest funding round, led by private equity firm TPG. The Series F round, which valued the company at $3 billion, saw continued support from existing investors including Softbank, Accel, and the Chan Zuckerberg Initiative. Eruditus, which offers professional and higher education courses, plans to use the new funds to develop AI-driven teaching tools, expand enterprise course offerings, and increase its focus on the Indian market.
Co-founder and CEO Ashwin Damera highlighted that India currently makes up 28% of Eruditus’ business, but he aims to grow that share to 50% in the next five years. Damera also hinted at a future public listing in India, though he emphasized the company is in no rush to go public. The move would involve shifting the company’s domicile from Singapore to India, in line with other startups looking for better IPO prospects.
Despite the recent slowdown in edtech funding in India, with the sector raising only $419 million so far this year, Eruditus’ successful funding round shows investor confidence in its long-term growth potential.
