Eruditus, a company that offers executive education programmes globally, has raised Rs 53 crore ($8.2 million) in a Series B round from Bertelsmann India, a company statement said.
The ed-tech startup will use the funds to add new programmes from its existing and new university partners and to expand its geographical footprint to China, Latin America and Europe, the press note added.
Eruditus had previously raised an undisclosed sum in its Series A round. Legal firm S&R Associates had served as the advisor to the deal.
Eruditus Learning Solutions Pte Ltd. was founded in 2010 by INSEAD alumnus Chaitanya Kalipatnapu and Harvard Business School alumnus Ashwin Damera. Kalipatnapu has previously worked with Sun Microsystems and also at his alma mater. Damera, a chartered accountant, has worked with Citibank and has also founded travel website Travelguru.com.
Eruditus offers customised and open business programmes in India, Singapore, Dubai, and other locations. It collaborates with experts from leading business schools such as MIT Sloan, INSEAD and Wharton to deliver its programmes, which take place in the form of workshops, modular sessions, or online courses. The company’s corporate clientele includes Deutche Bank, Microsoft, Altisource, HSBC, Vodafone, Accenture, Asian Paints, and others.
Bertelsmann India Investments, the investment arm of German media giant Bertelsmann backs early- and growth-stage firms in the digital, education, media and services sectors in India. BII has previously invested in online hotels aggregator Treebo Hotels, fashion discovery app Roposo, online financing platform Lendingkart, and others.
Recent deals in the ed-tech segment include Byju’s, which last week raised an undisclosed amount from Belgian family office Verlinvest. This investment came just three months after the firm closed its last funding round. With this investment, Byju’s has raised around $170 million over the past year and the firm is now valued at around $700 million (Rs 4,252 crore).
In January, education startup Curiositi Learning Solutions raised Rs 5.4 crore ($800,000) in Series A funding from Menterra Venture Advisors and existing investor Unitus Seed Fund.
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