Edtech Platform Eruditus Secures USD 150 Mn from TPG's The Rise Fund, Existing Investors Increase Stakes The company plans to deploy the raised funds to expand globally, invest in AI technology, grow its business in India and APAC, and explore acquisitions and investment opportunities to support its growth strategy.
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Higher education and upskilling platform Eruditus has raised USD 150 million in a Series F funding round, led by TPG's The Rise Fund, a multi-sector strategy within TPG's global impact investing platform.
According to a company statement, existing investors like Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative also participated in this round, increasing their stakes. The fresh fundraise maintains Eruditus' valuation at USD 3.1 billion, unchanged from its last round.
The funding comes shortly after PhysicsWallah (PW) secured USD 210 million at a USD 2.8 billion valuation, marking another major edtech fundraise. Moneycontrol had first reported TPG's leading role in this USD 150 million round on August 25.
The new funds will help Eruditus expand its global presence and strengthen its investments in AI technology. The company also plans to grow its business in the Indian and APAC regions while exploring acquisitions and investment opportunities to support its growth strategy.
"Eruditus' mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high-quality education and driving greater lifetime earning potential for their students," said Steve Ellis, managing partner of The Rise Funds. As part of the investment, TPG's Simit Batra will join Eruditus' board of directors, supporting its future growth.
Eruditus' CEO, Ashwin Damera, expressed excitement about the partnership with TPG and the continued support from existing investors. "In a rapidly evolving business environment, we have reimagined education by bringing programs from the world's leading universities to learners globally," Damera said. "Education is the key to transformation, and we're grateful to our investors for enabling us to accelerate our growth."
Following this fundraise, Eruditus is set to relocate its domicile from Singapore to India within the next 12–18 months, a move that was previously reported. This USD 150 million round marks Eruditus' first major equity raise since August 2021, when it secured USD 650 million at a valuation exceeding USD 3.2 billion. Since then, the company has mainly relied on debt from various institutions.
Excluding this latest funding, Eruditus has raised over USD 814 million in equity to date. The platform is backed by major investors, including SoftBank, Prosus, Peak XV Partners (formerly Sequoia Capital India), the Chan Zuckerberg Initiative, and GSV Ventures.
