Edtech sector is currently facing significant headwinds and the ability of Eruditus to raise $150 million in its latest Series F round signals confidence to push boundaries. The funding was led by TPG Rise and backed by major players like SoftBank and Chan Zuckerberg Initiative. The funding round now values Eruditus at $3 billion. It is now like a vote of confidence in the long-term vision and unique strategy of the company.
Eruditus co-founder and CEO Ashwin Damera said that the fresh funding will help them in driving development of AI-powered tools. The strategy is timely and even necessary in today’s education landscape. India currently is accounting for 28% of Eruditus’ business and Damera envisions the growing to at least 50% over the period of next five years. It is an ambitious goal and especially as the company begins the process of relocating its domicile from Singapore to India.
Why Eruditus is so bullish on India at a time when the broader edtech market is struggling? This is the major question being asked today as the market witnessed Byju’s US entity file for bankruptcy and layoffs at Unacademy as well as Scaler. Edtech funding has nosedived equipped with just $419 million raised in 2024. It raised $5.37 billion in 2021. The industry is not thriving anymore and battling on economic challenges.
Eruditus is targeting professional learners and enterprises with its executive education programs and certificates in partnership with top universities. Its primary focus is on upskilling working professionals combined with a global footprint.
The challenges faced by Indian edtech companies cannot be ignored and the strategy of Eruditus stands out as a calculated risk. The company could emerge as a survivor in the sector and also as a leader that can drive the next wave of innovation in education.
