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The initial allure of Byju’s, which once attracted funding for the entire sector, has given way to a contrasting narrative, casting a shadow on the overall confidence in edtech. Startups are now pulling out all the stops to woo investors.
India’s burgeoning startup ecosystem is highly dynamic. However, some industries have a distinguished standing as fertile ground for innovation, growth, and
Makkar's message to Eruditus was unequivocal: "To unlock real growth and scalability, you need to embrace the online realm," shared Ashwin Damera, CEO and Co-founder of Eruditus.“The feedback you gave us was very valid, and very constructive, which is why we came back (and asked for a second meeting). Bertelsmann has a lot of experience in education, Globally as well, and you (pankaj) gave us many examples from your portfolio companies that had long contracts with universities. And we realised that wow, theres actually something to learn here. So you know, Even beyond the money...
The secondary funding round is also likely to see participation from a new investor with a sovereign wealth fund showing interest
Edtech unicorn Eruditus might receive up to $70 Mn in secondary funding from existing investor SoftBank and CPPIB.