Softbank, Chan Zuckerberg, and Canada pension fund pour money into a $3.2 billion Indian edtech startup

Eruditus, an edtech platform for professionals looking for online courses from foreign universities, has raised another $150 million from its existing investors, which includes marquee names like Softbank Vision Fund 2, the Canadian pension fund, and the Chan Zuckerberg Initiative.

Working out of an office in Chakala, in Mumbai’s Andheri suburb, Eruditus wants to invest the money in using artificial intelligence to improve learners’ experience, as well as spend on acquisitions. The startup’s valuation remains at $3.2 billion, unchanged since its August 2021.

Source: Equitybee

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“With this investment, we’re excited to continue to grow and innovate to meet market demand,” said the 45-year-old founder and CEO Ashwin Damera, who founded Travelguru, an online travel booking portal, in 2005 and sold it to Travelocity in 2009.

Founded in 2010, Eruditus had a revenue of ₹3,800 crore in the financial year ended June 2024 and is likely to cross ₹5,000 crore by next June, the Harvard graduate Damera told the Economic Times. The company will shift its domicile to India from Singapore, he added.

Some of the other big investors in Eruditus include Peak XV Partners, GSV Ventures and Accel.

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