Team Startupcity

• $150Million refinancing led by Mars Growth Capital & HSBC
• Partnerships with 80+ top universities, 1M+ learners globally
• FY24 losses cut by 83%, revenue grew to  Rs 3,733 Crore

Global edtech major Eruditus has secured up to $150 million in a refinancing round, strengthening its financial flexibility amid a slowdown in the sector. The deal is led  Mars Growth Capital a joint venture between Liquidity and MUFG Bank along with support from HSBC.

The arrangement includes $130 million in initial financing and an additional $20 million scale-up option. Mars Growth Capital will contribute up to $100 million, while HSBC will provide the remaining $50 million.

Eruditus collaborates with over 80 world-class universities including MIT, Harvard, Wharton, INSEAD, and Cambridge, offering more than 700 professional learning programs to over 1 million learners across 80+ countries.

Also Read- WeHouse Raises 25 Crore for Tech Driven Home Building

“The refinancing reinforces our long-term growth strategy, giving us the financial flexibility to accelerate profitable expansion across international markets,” said Ashwin Damera, CEO and co-founder of Eruditus. He emphasized that the firm views Mars and Liquidity as strategic partners aligned for sustainable growth rather than just capital providers.

The funding follows Eruditus’ $150 million Series F round led  TPG’s The Rise Fund in October 2024 and its $650 million equity round in 2021, which propelled the company into the unicorn club.

In FY24, Eruditus reported a 12% growth in operating revenue to  Rs 3,733 crore while reducing adjusted EBITDA losses by 83% to  Rs 69 crore ($8.3M). Its FY25 filings are still awaited.

This deal comes as edtech funding in 2025 has slowed sharply, with startups raising just $118 million across 22 deals so far, and none in August. Meanwhile, PhysicsWallah recently bagged $210 million and received SEBI approval for its  Rs 3,820 crore IPO, marking one of the largest moves in the sector.