Ed-tech startup Eruditus onboards GSV Ventures and CPP Investments through a funding round
- ByTejika Bajaj | December 28, 2021
Ed-tech startup Eruditus which offers executive-level courses from top universities, onboarded GSV Ventures and CPP Investments in the $650 million round. This announcement comes four months after the Mumbai-based firm raised funds from Accel and Softbank Vision Fund 2, which essentially quadrupled its valuation to $3.2 billion.
Talking about the onboarding of the two new investors, the co-founder and CEO of Eruditus, Ashwin Damera said, “The two new investors are part of the $650 million funding round. The main reason for raising this entire round was to fund our growth both organic as well as inorganic.”
While GSV Ventures has been majorly investing in edtech startups — including celebrity-teachers platform FrontRow — CPP (Canada Pension Plan) Investments is a global investor offering venture capital and private equity investments, among other services.
The Singapore-headquartered firm runs Emeritus offers online certificates and programmes. Eruditus — currently has 2,000 people which is up from 600 at the start of 2021. Eruditus — which had 150 courses on its platform in 2020 followed by 500 in 2021 — will be adding 800-900 courses in 2022. Apart from India, the firm is also tying up with universities in Brazil and Costa Rica, among other countries. In India, Eruditus is tying up with the Indian Institute of Technology (Delhi and Mumbai) and the Indian Institute of Management (Indore and Lucknow), among others.
Eruditus also counts Prosus Ventures, Sequoia Capital India, and Bertelsmann India Ventures, among others, as their investors.
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