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If youve been following us for the past few months, youre familiar with the unprecedented boom in the edtech sector due to the transition to online education. This can be thankful for the pandemic. Platforms like Byjus and Unacademy are already a big part of the pie, this time after raising $ 650 million in the latest Series E funding round led by SoftBank Vision Fund 2 and ventures. The base management education platform Eruditus has arrived. Capital company Axel. The new funding, which combines primary funding ($ 430 million) and secondary funding ($ 220 million), will bring the companys valuation to $ 3.2 billion. It was last valued at about $ 800 million last August.

This also shows that SoftBank has made the second largest investment in Indias education and engineering sector.

Latest Rounds-The proceeds will be used to work with university partners to develop new courses, create new products and industry industries, double new geographic markets and raise funds-edtech Promote its startup to the coveted Unicorn Club and mark it as the 4th edtech unicorn in India and the 23rd (record!) From the country this year. In the funding round, we also saw investments from the Canadian Pension Plan Investment Board.

upGrad, Byjus, and Unacademy are three other Indian educational technology unicorns.

The rapid technological turmoil requires continuous skill development in todays employment market, said Summer Juneja, a partner at SoftBank Investment Advisors, in a statement. The companys partnership with the Elite University and the use of technology and data to create and deliver high quality courses puts Eruditus in a leading position in this area.

With the recent $ 200 million acquisition of iD Tech, Elditus marked its entry into the kindergarten-12 (k-12) sector with over 250 professional learning developed in partnership with over 50 prestigious universities. I have a program. The platform has built a global skills-up platform with courses that provide higher education to many students. Universities include celebrities such as MIT, Harvard, Colombia, Cambridge, INSEAD, Wharton, University of California, Berkeley, IIT, IIM, and NUS, making quality education accessible to learners around the world. We help you reach your goal of being affordable.

Ashwin Damera, co-founder and CEO of Eruditus, said: Startups are among the names of investors such as the Chan Zuckerberg Initiative, Sequoia India, Prosus, Bertelsmann, and Leeds Illuminate.

Today, the startup offers courses to more than 250,000 people in 80 countries and plans to make more than $ 500 million in bookings this year.

Eruditus will be the fourth Indian education and engineering unicorn, following $ 650 million in funding

Source link Eruditus will be the fourth Indian education and engineering unicorn, following $ 650 million in funding

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Eruditus will be the fourth Indian education and engineering unicorn, following $ 650 million in funding - Texasnewstoday.com