Eruditus taps PEs, SWFs for $100-150 mn
Indian higher education startup Eruditus is seeking to raise $100-150m in funding from private equity and sovereign wealth funds, according to anonymous sources. The Mumbai-based company plans to issue new shares and some existing investors will also divest their holdings. Despite recent challenges in the edtech sector, Eruditus is confident in protecting its valuation after becoming a unicorn in 2021. It is working with investment bank Avendus to find investors and plans to use the funds for acquisitions and expansion. Eruditus offers executive-level courses in partnership with universities worldwide.
Mumbai: Higher education startup Eruditus has reached out to top private equity (PE) and sovereign wealth funds (SWF) to raise $100-150 million, two people aware of the development said. The fundraising will see the Mumbai-based company issue new shares, while some existing investors will also divest their holdings.