News

Indian Edtech player Eruditus raises $8 Million from Bertelsmann

by IBNS 02 Apr 2017, 10:14 pm

Mumbai, Apr 3 (IBNS): Eruditus Executive Education recently announced that it has raised $8 million (INR 52.36 crore) in its Series B round from Bertelsmann India Investments (BII), an official release stated.

The company had earlier raised an undisclosed sum in its Series A. 

The company, co-founded by Ashwin Damera and Chaitanya Kalipatnapu in October 2010, collaborates with top business schools such as INSEAD, Harvard Business School, Wharton, Tuck, MIT Sloan and Columbia Business School in bringing their professional development programs to India, Asia and the Middle East.  

It also partners with EMERITUS Institute of Management to provide online courses to middle managers. 

Since its inception, over 5,000 students across more than 50 countries have benefitted from Eruditus’ courses. 

The company plans to use the funding to add new programs with existing and new university partners as well as expand its geographical footprint to China, Latin America and Europe.

“Making world-class professional education accessible and affordable to the entire world is the mission of Eruditus” said Chaitanya Kalipatnapu, co-founder and Director of Eruditus. 

"Our exceptional team of 100 people is based across Singapore, Dubai, India and the United States. Bertelsmann is a great partner given its global footprint, its expertise in education and its success in scaling business by working closely with the founding team. We look forward to working with them in building a great company," he added.

Pankaj Makkar, Managing Director at Bertelsmann India Investments, said, “Demand for high-quality educational services – particularly in the business sector – is growing fast in India and South East Asia. Eruditus meets this demand with classroom, online and blended-learning offers, giving more people access to global business education. Its collaboration with top Ivy League universities guarantees the highest quality. With Bertelsmann, we look forward to actively advancing the further development of Eruditus.”