In its Series F financing round, the inventive Edtech Unicorn Eruditus has successfully $150 million in Series F round, with TPG's The Rise Fund—a component of TPG's global impact investing platform—leading the way.

The current financial backers Leeds Illuminate, Accel, CPP Investments, Softbank Vision Fund 2, and the Chan Zuckerberg Initiative also participated in the funding round.

The Mumbai-based Unicorn has completed an equity round following a hiatus of over three years. In the month of March in 2022, it had previously raised $350 million for debt.

The company also joined the inclusive group of unicorns in the month of August 2021, following the $650 million equity funding round.

As per the press release declared from the company, the raised capital will be utilized to expand the business that serves governments and businesses, deepen investments in India and the APAC area, improve the student experience, and invest in the landscape of AI technology.

The business and its operations also have its sights set on upcoming investments & acquisitions, which have a track record of generating significant topline growth and market expansion.

In the year 2024, this transaction ranks as the second largest in the edtech field, after Physics Wallah, another unicorn, raised $210 million. The financing is being provided in the midst of a notable decline in edtech company investments. TheKredible data indicates that as of now in 2024, edtech firms have raised approximately $310 million through 30 agreements. This is in contrast to the $456 million, $2.3 billion, and $5.8 billion that they raised in 2023, 2022, and 2021.

Expressing to this, Ashwin Damera, Chief Executive Officer of Eruditus says, “With this investment, we are excited to continue to grow and innovate to meet market demand. For us, success is a measure of the lives we touch and together we have now impacted more than 1 million learners.”