Eruditus, an Indian edtech startup, is in advanced stages of talks to secure about $150 million in new funding, two sources familiar with the matter told TechCrunch, in what would be the largest fundraise by an Indian education firm in years.
TPG, a major private equity player, is discussing to lead the investment, the sources said. The new investment will value Eruditus at up to $2.3 billion, according to proposed terms, the sources added, requesting anonymity as the deliberations are ongoing.
This valuation is tied to Eruditus meeting specific performance targets. Failing to hit these milestones could see the startup lose its value to at least $1.8 billion, the sources added. The potential new valuation represents a decrease from the $3.2 billion at which Eruditus was valued during its last funding round in August 2021.
Terms of the deal could still change in the coming weeks, the sources cautioned. Eruditus counts Chan Zuckerberg Initiative, Prosus Ventures, Accel, SoftBank, Canada Pension Plan Investment Board and Peak XV among its backers.
Eruditus, founded 14 years ago, collaborates with leading global universities to provide executive education programs for businesses and individuals. The startup generates over two-thirds of its revenue from international markets.
TPG declined to comment. Eruditus didn’t respond to request for comment outside business hours.
The potential $150 million investment in an edtech firm could reinvigorate a sector that has struggled since the reopening of schools post-pandemic. Many edtech companies have faced devaluations or closures as their growth stalled with the return to in-person learning.
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San Francisco | October 27-29, 2025 REGISTER NOWThe Indian edtech market is also reeling from the sudden collapse of Byju’s, once valued at $22 billion. The Bengaluru-headquartered startup is mired in lawsuits and governance challenges and staring at insolvency proceedings.