Ettech Exclusive: Eruditus Closes $650 Million Funding Led By Accel, Softbank, Valuation Jumps Four-Fold To $3.2 Billion
Ettech Exclusive: Eruditus Closes $650 Million Funding Led By Accel, Softbank, Valuation Jumps Four-Fold To $3.2 Billion
08/12/21, 6:55 AM
Location
bengaluruMoney raised
$650 million
Bengaluru: Online executive education startup Eruditus has raised $650 million funding in a new round led by venture capital firm Accel US and Japan’s SoftBank Vision Fund II. Post the funding, which is a mix of primary capital infusion and secondary stake sale by existing shareholders, Eruditus will be valued at $3.2 billion, its founder and CEO Ashwin Damera told ET in an exclusive chat.
Company Info
Location
bengaluru, karnataka, india
Additional Info
While the company will receive $430 million in primary capital, $220 million of the secondary sale proceeds will go to existing backers like Bertelsmann, which is part selling its shares. Post the funding, which is a mix of primary capital infusion and secondary stake sale by existing shareholders, Eruditus will be valued at $3.2 billion, its founder and CEO Ashwin Damera told ET in an exclusive chat.