Innoven Capital Opt to Invest $2.3 Million in Eruditus

Innoven Capital Opt to Invest $2.3 Million in Eruditus | Insights Success

Temasek-owned InnoVen Capital is offering a fund in the education provider start-up, Eruditus. The investments are said to be around USD 2.3 million, in order to expand Eruditus’s approach globally.

It has been reported, the Mumbai-based tyro is duly planning to utilize the capital for developing new programmes in its assortment in order to stretch its roots in international markets. Finance will also be deployed to strengthen the bond with top education institutes like Harvard Business School, Wharton School (University of Pennsylvania), MIT Sloan School of Management.

Various reports also stated that the courses in partnership with top businesses schools will mainly include data science, fintech, digital business, and professional and management development programmes. The courses will be presented through both on-campus and online learning methods. Currently the executive education start-up is most profoundly planning on increasing the number of courses from 28 to 52, by the next year. Also, the company aims for about 300 per cent of growth in student enrolment from previous year.

Led by Ashwin Damera and Chaitanya Kalipatnapu, Eruditus is focusing on providing professional as well as management development programmes to domestic and overseas corporations. Previously, it has been conveyed that the Eruditus has also raised USD 8 million in a series-B funding round from Bertelsmann India Investments.

Besides, a pan-Asian debt platform venture—InnoVen, has also provided debt finance to several innovative tech start-ups across India and Southeast Asia. Some of such edtech companies are BYJU and Embibe also other portfolio investments include Myntra, Yatra, Swiggy, Oyo Rooms and Firstcry.

Suggested reports states, the Temasek has backed the loan financing firm with around USD 75 million for investing in start-up ecosystem. Currently, a growth of 25 per cent the company has been registered.