Bertelsmann India invests $8.2 million in Eruditus
Eruditus, a company that offers executive education programmes globally, has raised Rs 53 crore ($8.2 million) in a Series B round from Bertelsmann India, the company said in a statement.
The ed-tech startup will use the funds to add new programmes from its existing and new university partners and to expand its geographical footprint to China, Latin America and Europe, the press note added. Eruditus had previously raised an undisclosed sum in its Series A round.
Legal firm S&R Associates had served as the advisor to the deal. Eruditus Learning Solutions Pte Ltd. was founded in 2010 by INSEAD alumnus Chaitanya Kalipatnapu and Harvard Business School alumnus Ashwin Damera. Kalipatnapu has previously worked with Sun Microsystems and also at his alma mater.
Ashwin Damera, a chartered accountant and Founder of Eruditus Learing Solutions Pte Ltd., has worked with Citibank and has also founded travel website Travelguru.com. Eruditus offers customised and open business programmes in India, Singapore, Dubai, and other locations.
It collaborates with experts from leading business schools such as MIT Sloan, INSEAD and Wharton to deliver its programmes, which take place in the form of workshops, modular sessions, or online courses.
The company’s corporate clientele includes Deutche Bank, Microsoft, Altisource, HSBC, Vodafone, Accenture, Asian Paints, and others.
Bertelsmann India Investments, the investment arm of German media giant Bertelsmann backs early- and growth-stage firms in the digital, education, media and services sectors in India.
BII has previously invested in online hotels aggregator Treebo Hotels, fashion discovery app Roposo, online financing platform Lendingkart, and others.