Eruditus Secures $150 Million for Global Expansion in Edtech
Edtech company Eruditus has successfully secured up to $150 million through a refinancing agreement led by Mars Growth Capital, a collaboration between Liquidity and MUFG Bank, Japan’s largest financial institution. The initial funding of $130 million, alongside a $20 million scale-up option, aims to support Eruditus in its ongoing global expansion and operational development, as announced in a recent press release.
According to the company, Mars Growth Capital will contribute up to $100 million, with the additional $50 million being provided by HSBC. Eruditus collaborates with over 80 prestigious universities, including renowned institutions like MIT, Harvard, Wharton, INSEAD, and the University of Cambridge, offering more than 700 professional learning programmes to over one million learners worldwide.
The CEO and co-founder of Emeritus and Eruditus, Ashwin Damera, stated that the refinancing aligns with their long-term growth strategy, offering the financial freedom to boost profitable development in international markets. Damera remarked that they perceive MARS and Liquidity as long-term strategic partners, emphasizing the foundations of trust and a shared vision aimed at scaling together and fostering sustainable, profitable growth.
In October last year, Eruditus raised $150 million in its Series F funding round, spearheaded by TPG’s The Rise Fund. The firm notably entered the prestigious unicorn club during its $650 million equity round in August 2021.
For FY24, Eruditus reported a 12% growth in operating scale, reaching Rs 3,733 crore, while significantly reducing its adjusted EBITDA losses by 83.45% to Rs 69 crore (approximately $8.3 million). The company has not yet submitted its annual report for FY25.
This funding round emerges at a time when financial support for edtech has considerably declined. In 2025, startups within the sector have garnered only $118 million across 22 deals, with no agreements finalized in August. PhysicsWallah, another unicorn, achieved the most substantial edtech funding in recent years with a $210 million round and has received approval from SEBI for its Rs 3,820 crore IPO.
