Eruditus raises $113 million funding led by Leeds Illuminate & Prosus Ventures
August 31, 2020
Edtech startup Eruditus has raised $113 million in funding led by Leeds Illuminate and South African internet giant Prosus Ventures (formerly Naspers Ventures) with participation from Facebook founder and CEO Mark Zuckerberg and Priscilla Chan’s philanthropic organisation, the Chan Zuckerberg Initiative.
Existing investors Sequoia India and Ved Capital also participated in the fundraising.
Eruditus is the latest in a line of large edtech players seeing increased investor interest, leading to favourable valuations.
Byju‘s saw its valuation increase from around $6 billion last year to $8 billion in January and $10.5 billion in June. Live online learning platform Vedantu also saw its valuation soar to $600 million, while Unacademy is in talks with Japan’s SoftBank to raise capital at a $1.3 billion valuation.