Series G

Series E

Series D

Series A

Series J

Series B

Series C

Seed

Pre-Series A

Series F

Others

Pre-Seed

Asia (ex. GCC & Levant)

Rest of World

Levant

Africa

Uncover details about Accel: portfolio highlights, funding strategy, and key sectors. Lucidity Insights has it all.

Accel

Bangalore

Flipkart

E-Commerce

Marketplace

Internet

Shopping

Flipkart operates an online shopping website with a registered customer base of over 100 million.

Transportation

Ola is a mobility platform and ride-hailing company that integrates city transportation for customers and driver partners.

Swiggy

Delivery

Food delivery platform that brings food from neighborhood restaurants directly to customers' doors.

Singapore

Eruditus Executive Education

Education

EdTech

Learn. From the world’s best.
Eruditus was founded in 2010 to make world-class executive education accessible globally, offering a portfolio of high-impact programs for working professionals under the Emeritus brand.

With over 350,000 learners from more than 80 countries, Emeritus delivers executive education programs in collaboration with top global universities.

Zetwerk

Consumer Goods

Manufacturing

Zetwerk operates a business-to-business marketplace for manufacturing items.

cure.fit

Fitness

Apps

Wellness

Healthtech

cure.fit is a health and fitness company offering digital and offline experiences across fitness, nutrition, and mental well-being.

Polygon

Blockchain

Polygon is a leading platform for Ethereum scaling and infrastructure development, providing scalable, affordable, secure, and sustainable blockchain infrastructure for Web3.

Blackbuck

Logistics & Storage

Supply Chain Management

Blackbuck is the largest trucking platform that revolutionized the industry by bringing offline trucking operations online with a strong focus on data science and engineering.

Delhi

Stanza Living

Hospitality

Proptech

Rental

Sharing Economy

Stanza Living is India's largest managed-accommodation provider for students and young professionals, revolutionizing the traditional industry through its full-stack technology ecosystem.

New York

Cyera

Cloud Data Services

Cybersecurity

Artificial Intelligence

Cloud Security

Cyber Security

Cyera is the data security platform that empowers security teams to manage and protect all of their company’s sensitive data.

Tel Aviv

Port

Software

Developer Tools

Software Dev/Test

Port is an open internal developer portal, owned by platform engineering teams and built for developers. Port allows developers and DevOps to build a service/software catalog, and enable developer self-service actions.

California

Instabug

Mobile

Mobile App

Instabug is a computer software company that offers services for mobile app developers to help them in testing their applications. It delivers real-time contextual throughout the application's life cycle that helps mobile application developers to detect bugs and errors on their application.

The company was founded in 2014 and headquartered in California, United States.

Dar es Salaam

Nala

Finance

Fintech

Banking

NALA is an application that acts as an interface on top of the mobile money payment systems that allows the user to make transfers, payments, and transactions seven times faster, without data connectivity.

Gurugram

Accacia

Real Estate

Green Tech

Accacia is an AI-enabled platform to help real estate and infrastructure companies (developers, asset managers, financial institutions, operators, and governments) meet their net-zero goals.

Cairo

Swypex

Financial Services

Security

Polygon raised about $450 million through a private sale of its native MATIC token in a funding round led by Sequoia Capital India with participation from SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and prominent investors like Alan Howard (co-founder, Brevan Howard) and Kevin O’Leary (Mr. Wonderful from ABC's Shark Tank).

Polygon Raises $450,000,000 From Sequoia Capital India, SoftBank, Galaxy, Tiger, Republic Capital

Flipkart, the largest e-commerce company in India, announced on Twitter that it has raised a massive $1 billion round. The round was led by Tiger Global Management and Naspers, with participation by GIC and existing investors Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management, and Sofina. The tweet confirms reports several days earlier in the Economic Times that company had secured that amount in funding at a reported $7 billion valuation.

In a statement, Flipkart said the “funds will be used to make long-term strategic investments in India, especially in mobile technology.”

Massive milestone for us… we have raised $1 billion in fresh funding. Huzzah! @binnybansal @_sachinbansal pic.twitter.com/NDbIQCeEJl

— Flipkart (@Flipkart) July 29, 2014

This takes the total Flipkart has raised so far to $1.75 billion. The company, which now has 22 million registered users and makes 5 million shipments a month, last announced fundraising in May, when the company said that it had closed a $210 million round led by DST Global, with participation from Tiger Global, Naspers, and Iconiq Capital.

Flipkart will most likely use the money to ward off competition from Snapdeal and Amazon, which launched in India a year ago. It will also continue acquiring startups–it’s most recent purchase was online fashion dealer Myntra in a deal reportedly worth $300 million.

Indian E-Commerce Giant Flipkart Raises Massive $1B Round

Homegrown Indian e-commerce site Flipkart has raised another $200 million from existing investors, according to reports in Indian media. The Economic Times says the deal is Flipkart’s largest to date. Flipkart competes with various other local e-commerce players including Snapdeal and Myntra. Amazon has also recently entered the Indian market.

Flipkart, which sells a range of good including books, clothes, music & movies and consumer electronics items, raised $20 million from Tiger Global, back in 2011. According to CrunchBase it also raised a $150 million round last August, again from the same investors.

Existing investors in Flipkart include Tiger Global Management, Naspers, Accel Partners and Iconiq Capital. The Economic Times reports that all four participated in the new round, with MIH, a part of  Naspers, doing their portion of the investment. Flipkart has now raised a total of around $380 million, including the latest round (its fifth).

The newspaper reports that Flipkart will use the new funding for investments in “technology, supply chain, automation and people development”. Indian tech blog, the NextBigWhat, also specifically mentions Flipkart’s e-books business and datacenter capabilities as areas of focus, along with supply chain and technology.

Increasing its shipping capabilities so it can handle “millions of shipments a day” is one aim for the new round, according to Flipkart CEO, Sachin Bansal. “We will also make investments in talent pool. There is no ready made talent in India. We will invest heavily on creating and hiring such talent,” Bansal is also quoted by the NextBigWhat as saying.

India E-Commerce Giant Flipkart Raises Another $200M From Existing Investors

Online retailer Flipkart.com on Friday said that it has raised funding from two new investors MIH, part of the Naspers Group, and Iconiq Capital along with its existing investors, Tiger Global and Accel Partners. The company did not disclose the amount, but according to sources, it is expected to be about $150 million.

With this round of funding, MIH has now joined the board, the company said. South Africa-based Naspers is a leading multinational group of media and e-commerce platforms, listed on the Johannesburg stock exchange, while Iconiq Capital is a global multi-family firm, headquartered in San Francisco.

With this round of funding, MIH has now joined the board, the company said. South Africa-based Naspers is a leading multinational group of media and e-commerce platforms, listed on the Johannesburg stock exchange, while Iconiq Capital is a global multi-family firm, headquartered in San Francisco.

Flipkart raises close to $150 m from investors

Flipkart, an Amazon-like e-commerce site in India, has raised $20 million from Tiger Global. This brings the company’s total funding to $31 million. Previous investors include Accel India.

Flipkart launched in 2007 as an online bookstore, but recently expanded to Electronics, Mobile Phones and CDs/DVDs of music, movies, games and software. The site is still the largest online book retailer in the country (the site has 10 million titles available), but aims to become an e-commerce destination for electronics, music and more.

Currently, Flipkart has sold 2 million items across all categories and is seing around 4 million unique vistors per month. Repeat purchase rates are around 70 percent. Sales of CDs and books are about half of the company’s revenue, says CEO and co-founder Sachin Bansal. Sales are growing by 25 percent every month, and Flipkart is on track for a $50 million run rate.

Bansal tells us that Amazon has not yet entered the country, but is rumored to be looking at ways to tackle the Indian market. He says for now, Flipkart’s biggest competitor is offline shopping in brick and mortar stores. The challenge in India, Bansal explains, is helping consumers understand the deals they can find online.

Of course, as internet connectivity grows in the country, so will e-commerce engagement and transactions. Bansal says that currently there are 80 to 100 million internet users in India and that is estimated to grow 30 percent year over year. His goal is to create a value proposition that makes consumers realize that online shopping is beneficial. So what are these offers? Bansal says that he aims to create an Amazon Prime like shipping and delivery experience.

Another feature Flipkart offers is a Cash-on-Delivery option, which allows buyers to pay cash to the courier that delivers the item.

India's Amazon.com Flipkart Raises $20 Million From Tiger Global

Flipkart, the poster boy for Indian startup market, was started back in the year 2007 two IIT Delhi graduates who had quit Amazon with entrepreneur dreams. Ten years later it is competing hard and thriving in the presence of the global giant that Amazon has become in the meantime. Opened as just an online bookstore, Flipkart, India’s largest e-commerce portal, not employs thousands of people and sells the widest range of products. Flipkart, despite its ups and downs, went about its journey, creating landmarks in the process. It also set the stage for many other startups too. At the same time, it was the investors who backed the company at crucial points of time, in its fight against Amazon and other rivals. The company’s investors include Tiger Global Management, Naspers, Accel Partners, Dragoneer Investment Group, Sofina, ICONIQ Capital, DST Global, GIC and Morgan Stanley Investment Management. According to a Bloomberg report, Flipkart has reportedly completed a $1billion fundraising and is also looking raise around $1 billion more in the due course of 2017. The company’s latest funding on March 20 was reportedly set at a valuation of about $10 billion. Despite Flipkart’s recent internal problems as well as a dry capital raising environment, this report appears to provide a fresh push to the company in its fight against the competition. Here is a timeline of the finances (funding and valuations) that Flipkart has received through the years:

2007: Begins with 4 lakh or $6,000 as initial capital.
2008: Ashish Gupta, founder of Junglee and Helion Venture Partners funds Flipkart initially.
2009: Accel India, the venture capital firm, provides the first institutional round of fund of $1 million. Flipkart also received $10 million from Tiger Global Management. The valuation of the company was reported to be a bit lower than $50 million.

The Flipkart story: A timeline of funding from 2007 to 2017

Zetwerk, a business-to-business marketplace for custom manufacturing, has raised a new round led by D1 Capital Partners. This is the second fundraise for the company in 2021 including a $120 million Series D round in February.

Breakdown of the current round, entry into the unicorn club

According to the company’s regulatory filings, it has raised close to Rs 900 crore or $120 million in its Series E in which D1 Capital Partners has invested $50 million followed by Green Oaks and Lightspeed which put in $32 million and $22.5 million respectively.

Avenir, Sequoia Capital, Accel and angel investors such as Kunal Shah and Ritesh Aggarwal have brought in the rest.

According to Zetwerk, the company has raised $150 million in this round at valuation of $1.33 billion.

With this, the company has entered the coveted club of unicorns and becomes the 25th startup to attain the feat in the ongoing calendar year. Earlier this week, Grofers, an online grocery platform turned into a unicorn after raising $100 million from Zomato.

Zetwerk becomes 25th unicorn of 2021; raises $150 Mn in Series E

Zetwerk, an Indian business-to-business marketplace for manufacturing items, has raised $21 million in a new financing round as it looks to scale its operations in the nation and help local businesses find customers overseas.

San Francisco-based investment firm Greenoaks led the two-year-old Indian startup’s Series C financing round. Existing investors Accel, Kae Capital, Lightspeed and Sequoia Capital India also participated in the round, which brings Zetwerk’s to-date raise to $62 million.

Zetwerk, an Indian B2B marketplace for manufacturing items, raises $21 million

Indian business-to-business (B2B) marketplace startup Zetwerk has raised $32 million in funding, led by new investors Lightspeed and Greenoaks Capital, reports said on Tuesday (Dec. 10). Existing investors Sequoia India, Accel and Kae Capital also participated in the Series B funding round, as well as B2B marketplace Udaan’s Co-founder Vaibhav Gupta and budget lodging firm OYO’s Chief Strategy Officer Maninder Gulati.

The investment will be used by Zetwerk to scale operations in India. Zetwerk Co-founder and CEO Amrit Acharya told reports that the company also raised about $14.2 million in debt from banks and others. The Bangalore-based startup has raised roughly $41 million to date.

The B2B manufacturing firm was founded by Acharya, Srinath Ramakkrushnan, Rahul Sharma and Vishal Chaudhary last year. The company connects original equipment manufacturers (OEMs) and engineering procurement construction (EPC) customers with manufacturing small businesses (SMBs) and enterprises.

Zetwerk Raises $32M Series B Led By Lightspeed, Greenoaks Capital

Bengaluru-based manufacturing services platform Zetwerk has raised its Series A funding of $9 Mn from Accel Partners and Sequoia Capital India. The existing investor Kae Capital also participated in the round.

Manufacturing Services Platform Zetwerk Raises $9 Mn Series A Funding

Tata-backed fitness startup CureFit has raised around $145 Mn (INR 1,088) Cr led by Zomato along with San Francisco-based South Park Commons at a valuation of $1.4 Bn.

Singapore’s Temasek and Accel Partners also participated in the fresh round. 

As part of this round, Zomato has infused INR 750 Cr, South Park has invested INR 75 Cr, Accel Partners invested INR 37.5 Cr and Temasek invested INR 187.5 Cr. 

Zomato’s infusion was reported in early November when the foodtech giant had announced its quarterly earnings. The foodtech giant sold fitness facility arm Fitso to CureFit for $50 Mn.

Additionally, it invested another $50 Mn in the fintech unicorn. In the cross-selling, Zomato had acquired a total shareholding of 6.4%, worth $100 Mn in the fitness startup.

This appears to be the first-ever investment of South Park Commons in India. However, its partner Aditya Aggarwal had invested in Kavin Mittal’s Hike.

Founder Mukesh Bansal (invested INR 5 Cr) along with Paras Sanghvi and Apurva Doshi also invested in this round, regulatory filings accessed by Inc42 showed.

Founded in 2016 by Mukesh Bansal and Ankit Nagori, CureFit runs physical fitness platform Cultfit, mental fitness (Mindfit), and a primary care vertical (Care.fit).

CureFit is present in 21 cities across the country and plans to reach over 50 cities by FY22.

Exclusive: CureFit Raises $145 Mn From Temasek, South Park Commons, Zomato

Fitness startup Curefit is raising INR 831.95 Cr ($110 Mn) in a Series D2 funding round led by Singapore-based investment firm Temasek. The offer to raise the Series D2 funding was approved on March 11.

Accel Partners, Epiq Capital, Unilever Swiss, Gabelhorn Investment, PraTithi Organic Foods, Satyadharma Investment, Ascent Private Equity, Castle Island, McGovern Family Trust and Julia Dhar of Boston Consulting Group (BCG) will also be participating in the round. Besides this, Chiratae Ventures will also be investing in the Curefit through its Fund IV and Vistra ITCL.

Curefit Bags $110 Mn From Temasek, Accel Partners and Others

Bengaluru-based health and fitness startup Cure.fit on Tuesday announced that it has closed a total of $120 million in its Series D round. The startup had raised $75 million in April 2019 and an additional $45 million now. The round, which is a mix of equity and debt funding, is led by Chiratae Ventures (formerly IDG Ventures), Accel Partners, Kalaari Capital, and Oaktree Capital. New investors Epiq Capital, Unilever Ventures, Innoven Capital, and Kotak Mahindra Bank also participated in the funding round.

[Funding alert] Cure.fit raises $45M, closes Series D round at $120M

Bengaluru-based health and fitness platform Cure.fit has raised $120 million in Series-C round of funding. IDG Ventures, Kalaari Capital, Accel Partners, Oaktree Capital, and Chiratae Ventures participated. A press release from the company has stated that this amount will be used in the development of their technology, with focus on AI in health planning. The company also plans to launch its own fitness wearables. Following highly funded startups like OYO Rooms and Ola Cabs going abroad, Curefit is also looking at foreign markets and plans to expand to South West Asian countries in the next 12-15 months. Curefit was planned as an amalgam of mental wellness, physical fitness and a balanced diet for an integrated approach to preventive and curative healthcare. Curefit integrates four verticals that work together to ensure the holistic wellbeing of their users: physical fitness via Cult.fit, mental wellbeing via Mind.fit, healthy eating via Eat.fit; and personalised healthcare solutions via Care.fit. What differentiates Cure.fit from other players in the market is that it drives its preventive healthcare philosophy through engagement, coaching and delivery, using a combination of online and offline channels.

Fitness startup Curefit raises $120 M in Series-C round of funding

Bengaluru-based fitness startup CureFit has raised $25 Mn in Series B round of funding from existing investors Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT fund.

The startup will use the newly raised funds to expand the company’s geographical footprint in the country and scale-up its business verticals.

Vani Kola, Managing Director at Kalaari Capital said, “CureFit has built a very strong team in the last one year and delivered a significantly differentiated value proposition for Cult.fit and eat.fit. CureFit has established a strong product-market fit and is ready to start scaling the business across other health offerings and cities across India.”

Founded in March 2016 by Mukesh Bansal and former Flipkart CBO Ankit Nagori, the startup offers integrated health and fitness solutions. The startup provides these solutions through three verticals – Cult.Fit, Eat.Fit and Mind.Fit via online and offline channels.

Fitness Startup CureFit Secures $25 Mn From Kalaari Capital, Others

CureFit, started by former Myntra and Flipkart executives Mukesh Bansal and Ankit Nagori earlier this year, announced on Monday that it had raised $15 million from Accel Partners, IDG Ventures and Kalaari Capital. To be launched in 2017, CureFit will be a platform that will enable users to manage their health proactively through a gamut of service offerings.

Curefit aims to be an innovative combination of engagement, coaching and delivery, through a mix of online and offline channels. The startup believes that both experiences seamlessly integrated will provide end-to-end proactive health management to consumers. Through this solution, consumers will be able to enjoy better quality of life, reduce the probability of falling sick and significantly reduce risks for long-term chronic diseases.

Mukesh Bansal and Ankit Nagori's CureFit raises $15M from Accel, IDG and Kalaari

India’s trucking system has a big inefficiency problem that continues to drag the economy. BlackBuck, one of the handful of logistics startups that is trying to overhaul this system, just raised $150 million in a Series D round to further pursue its mission.

The new round was led by Goldman Sachs Investment Partners and Accel at a valuation just shy of $1 billion, according to a person familiar with the matter. Wellington, Sequoia Capital, B Capital, Light Street and existing investors Sands Capital and World Bank’s investment arm International Finance Corporation also participated in the round.

The four-year-old B2B startup, which connects businesses with truck owners and freight operators, has raised about $230 million in equity financing and another $100 million in debt financing to date, CEO Rajesh Yabaji told TechCrunch in an interview.

Yabaji said the startup will use the fresh capital to expand and improve its technology stack that enables truck drivers to find more work, and grow its fleet of driver partners. As of today, BlackBuck has 300,000 trucks on its platform and about 10,000 clients, including big names such as soft drinks manufacturer Coca-Cola, consumer goods giant Unilever and automotive conglomerate Tata

BlackBuck raises $150 million to digitize freight and logistics across India

Zinka Logistics Solutions Pvt. Ltd, which operates business-to-business tech-enabled
logistics startup BlackBuck, has raised Rs 202.96 crore ($27.4 million at current exchange rates) from new and existing investors.
According to the company's Ministry of Corporate Affairs (MCA) filings, venture capital firm Sequoia Capital India has come in as a new investor to lead the round with an infusion of Rs 108.75 crore ($14.68 million at current rates). Existing investors Accel Partners and Sands Capital contributed the rest.
It could not be immediately ascertained whether this was part of a larger round of funding for BlackBuck, which is also backed by US-headquartered investment firm Tiger Global. BlackBuck had raised its Series C round a year-and-a-half ago.

Logistics-tech startup BlackBuck raises $27.4 mn in fresh capital

BlackBuck, a startup that is digitizing logistics and cross-country freighting in India, has closed out a $70 million Series C round.

The deal is led by new investor Sands Capital, with participation from World Bank’s IFC and existing investors Accel and e-commerce giant Flipkart. BlackBuck had previously raised $30 million, including a $20 million Series B in 2015. Yuri Milner-backed Apoletto is another investor.

The premise of BlackBuck is to bring increased efficiency and transparency to logistics in India through the use of technology. It isn’t alone, however. Its closest rival is Rivigo, which has taken on $115 million in financing from investors such as Warburg Pincus and SAIF Partners, according to Crunchbase.

Bangalore-based BlackBuck, which was founded in April 2015, takes two routes to digitizing the logistics space. It operates a marketplace that connects organizations needing to move goods across India with truckers seeking work, or to maximize their loads with additional capacity.

BlackBuck closes $70M to digitize freight and logistics across India

BlackBuck, a business-to-business logistics startup, has raised $25 million in Series B funding from Tiger Global and other investors.
Russian billionaire-investor Yuri Milner's Apoletto fund and existing investors Accel Partner and Flipkart also put money in this round, the Bangalore-based company said in a stateme
The startup, owned by Zinka Logistics Solutions Pvt Ltd, would use the funds for expansion to build products and set up the team.
BlackBuck was founded in April this year by IIT Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B.
It had received $5 million in funding earlier this year from Accel Partners and Flipkart.

Logistics startup BlackBuck raises $25M from Tiger Global, others

Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in what appears to be a bridge round led by Alpha Wave. The equity round is coming after a gap of more than three years for the Delhi-based startup.

The board at Stanza Living has passed a special resolution to issue 1,207 preference shares at a price of Rs 911440.17 each to raise Rs 110 crore, its regulatory filing accessed from the Registrar of Companies shows.

Alpha Wave has pumped in Rs 83 Crore while Matrix Partners, Accel India and Peak XV invested Rs 27 crore cumulatively.

As per startup data intelligence platform TheKredible, Stanza Living has been valued at around Rs 3,900 crore ($470 million). This is a marginal jump in valuation from Rs 3,525 crore ($424 million) in the last equity round.

The firm was reportedly in talks to raise funding to the tune of $25 million.

Stanza Living had raised $57 million in a debt round led by Kotak Mahindra Bank and RBL Bank in March 2022 and $100 million in an equity round in April 2021. So far, it has scooped up over $230 million across equity and debt rounds.

Stanza Living is a managed accommodation platform which provides co-living solutions for working professionals and students. The firm claims to have an inventory of more than 75,000 beds in 450 plus residences with a presence across 24 cities.

Stanza Living’s revenue from operations surged to Rs 442 crore in FY23 from Rs 115 crore in FY22. As per TheKredible, its losses increased by 18.71% to Rs 495 crore in FY23 as compared to Rs 417 crore in FY22. The firm is yet to file its audited financial statements for FY24. 

Stanza Living competes with Colive, Your Space, Settl, Union Living and Coho. Last year, Tiger Global-backed home rental startup NestAway was acquired by Aurum PropTech (formerly Majesco Ltd) in a 90% haircut in valuation to $11 million.

Exclusive: Stanza Living raises $13 Mn led by Alpha Wave

Student housing startup Stanza Living has raised an undisclosed amount as a part of its ongoing Series C round, led by Falcon Edge Capital. However, sources close to YourStory said that the investment raised as a part of this round is close to $50 million. The round also saw participation from existing investors like Sequoia Capital, Matrix Partners and Accel Partners. Co-founder Anindya Dutta said that the company is looking to invest a significant part of this capital in a potential acquisition of competitors and expand its presence across India. It has raised a total of 16.7 million till now including debt financing of $4.4 million, which was raised in March this year.

[Funding alert] Falcon Edge Capital leads Series C funding round in Stanza Living

Student accommodation startup Stanza Living has raised a total of Rs 73 crore ($10 million) in an investment round that was led by Sequoia India and saw the participation of Matrix and Accel Partners. The development comes nine months after the Delhi-based startup raised its first round of institutional funding from Matrix and Accel Partners in November 2017. The company said it will deploy the funds raised to expand its market beyond Delhi-NCR region. Apart from expanding its reach, it also plans to use the funds raised to strengthen its technology and team.

Stanza Living raises $10 M from Sequoia India and others

New Delhi-based student accommodation platform Stanza Living has raised $2 Mn in funding from investment firms Matrix Partners and California-headquartered Accel Partners.

The startup will be utilising the fresh capital to expand its presence in new cities and further develop its technology platform. A portion of the funding will also be spent on talent acquisition.

Stanza Living Raises $2 Mn Funding From Matrix Partners, Accel

Executive education platform Eruditus has raised $650 million as part of its latest Series E funding round led by Accel US and SoftBank Vision Fund II, valuing the startup at $3.2 billion, the company said on Thursday.

The round has seen a primary infusion of $430 million into the company and $220 million to give exits to early investors, a person aware of the discussion said, requesting anonymity.

Leading the secondary round are Canada Pension Plan Investment Board which invested between $100 million and $110 million and Prosus Ventures which put in $75 million, the person said.

Eruditus becomes 4th edtech unicorn after raising $650 mn

Mumbai-based edtech startup Eruditus has secured $150 million in a Series F funding round, maintaining its valuation at $3.2 billion post-money. The round was led by TPG’s global impact platform, The Rise Fund, which contributed $100 million. Other key investors in this round include SoftBank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments, and the Chan Zuckerberg Initiative, with SoftBank injecting an additional $20 million.

According to Eruditus, the fresh capital will be directed toward expanding its operations in India and the APAC region, enhancing student experiences, and investing in AI-driven technology. The company also aims to explore new acquisitions and generate significant business growth.

Eruditus, through its brand Emeritus, offers a wide range of educational programs, including short courses, degrees, and professional certificates. These programs have reached over 350,000 individuals across more than 80 countries.

Co-founder Ashwin Damera revealed that the company is on track to achieve Rs 5,000 crore in revenue by fiscal year 2025, with Rs 300 crore in EBITDA. He noted that while fundraising took longer than anticipated, the process provided insights into global investor concerns, particularly about the education sector and corporate governance in India.

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