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Chan Zuckerberg Initiative backs Indian education startup Eruditus in $113 million fundraise

Mumbai-based Eruditus, which works with top universities globally to offer more than 100 executive-level courses to students in over 80 nations, said on Monday it has raised $113 million in a new financing round as it looks to further scale its business to reach more learners.
The Series D financing round for the 10-year-old startup was co-led by Leeds Illuminate and Prosus Ventures . Chan Zuckerberg Initiative and existing investors Sequoia India and Ved Capital also participated in the round, which brings Eruditus’ to-date raise to over $160 million. Eruditus is now valued at over $700 million, a person familiar with the matter said. Avendus Capital was the financial advisor to Eruditus on this transaction.
Eruditus maintains a tie-up with over 30 top-tier universities including MIT, Harvard, Columbia, Cambridge, INSEAD, Wharton, UC Berkeley, IIT, IIM, and NUS. The universities and Eruditus work to develop courses that are aimed at offering higher education to students. These courses cost anything between $5,000 to $40,000.
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