Eruditus eyes unicorn valuation in SoftBank-led funding round

Eruditus eyes unicorn valuation in SoftBank-led funding round
Photo Credit: Reuters

Japan’s SoftBank Group Corp is in talks to lead a $250-$300 million primary capital round in Eruditus Learning Solutions, the Singapore based edtech platform that runs executive education programmes. The round is expected to value Eruditus at $2.5 billion, at least three people aware of the deal said.

The deal, if it goes through, would make Eruditus the second edtech company in the SoftBank Vision Fund 2 India portfolio to be valued at more than $1 billion. Bengaluru based Unacademy was valued at $1.45 billion in September last year when Vision Fund 2 led a $150 million round in the edtech. When Eruditus last raised capital -- $113 million in August last year -- it was reported to be valued at around $700 million. 

A SoftBank spokesperson declined to comment. Eruditus did not respond to emailed queries till press time. 

Apart from SoftBank, Eruditus is also in talks with a London based early-to-growth investments focused investor for the current round, the third of the people cited earlier said, VCCircle reported.  

Read: SoftBank in talks to lead $250-300 million funding round in Eruditus

Digital news platform Moneycontrol had reported first late last month that the edtech was in talks with new investors to raise $200 million at a valuation of $2.5 billion.