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ERUDITUS LOSSES
Foreign universities drive hiring boom in IndiaIndia's educational landscape is on the cusp of transformation as NEP 2020 invites a host of foreign universities to set up campuses here. ...- UpGrad halves losses in FY25, posts 5% topline growthThe higher education and upskilling firm posted a net loss of Rs 274 crore, compared with Rs 560 crore in FY24. Its operating revenue incre...
- Edtech unicorn Eruditus closes $150-million loan refinancing deal from Mars Growth Capital and HSBCEruditus secured the deal led by MARS Growth Capital, a joint venture between Liquidity and MUFG Bank, and HSBC. This round comes after a $...
- iPhones light up India; Amazon, Nykaa expandiPhone shipments from India are set to surge, buoyed by pricing and festive demand. This and more in today's ETtech Top 5.
- Eruditus FY24 Ebitda loss narrows, founder cites focus on profitabilityEruditus was among the few edtech startups to have raised capital last year. It raised $150 million at a flat valuation of $3.2 billion pos...
- Wealthtech platform Univest raises $10 million in Series A round from Bertelsmann IndiaAccording to Pranit Arora, cofounder and CEO of Univest, the funds will help the company to scale its research-first, full-stack brokerage ...
- Kenro Capital invests $40 million in K12 Techno through primary and secondary transactionsKenro Capital said in a blog post that the deal is a mix of primary and secondary investments. The Bengaluru-based K12 provides a range of ...
- Top startup and tech stories this weekWelcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
- Eruditus joins queue of reverse flips by Indian startups, weighs IPOEdtech unicorn Eruditus is planning a shift in domicile from Singapore to India, or reverse flipping, and joins the growing list of Indian ...
- Eruditus plans India flip; Ayodhya boost for spiritual appsIndian IT majors are eyeing upcoming US federal contracts as several large deals are set for renewal in the next two quarters. While it is ...
- Eruditus’ FY23 revenue jumps 63% to $400 millionRevenue rose to $400 million (around Rs 3,280 crore as per current exchange rates) in 2022-23 from $245 million the previous year, said Ash...
- Prosus reports 80% jump in Swiggy's Jan-Dec loss, 26% growth in food-delivery GMVProsus, which has backed companies such as Byju’s, PharmEasy and Eruditus, holds a 33% stake in Bengaluru-based Swiggy.
- US fund cuts edtech Eruditus’ valuation by 9% to $2.9 billionThe markdown has translated to a valuation of about $2.9 billion as of March 31, 2023, a drop from $3.2 billion in August 2021, a price at ...
- ETtech Scoop: Reliance enters zero-commission fashion marketplace; mid-to-senior hirings in startups plummetReliance Industries’ online fashion platform Ajio will launch Ajio Street — a zero-commission fashion marketplace aimed at value products f...
- Swiggy CTO Dale Vaz resigns; Eruditus’ FY22 revenue jumps 87%Vaz, who had joined Swiggy as its head of engineering and data science, was promoted to the CTO post in 2020 after Rahul Jaimini, who cofou...
- Eruditus FY22 revenue up 87%; loss excluding exceptional items at $66 millionIn the financial year ending FY21, Eruditus had reported a cash loss of $31 million, filings reviewed by ET showed. The Mumbai-based edtech...
- Upskilling companies see brisk business as K-12, test prep stallUpskilling startup founders told ET that they are expecting to clock a strong rate of growth in the ongoing year even as a funding crunch h...
- Prosus says Indian portfolio firms Swiggy, Byju’s saw strong growth in FY22“Our food platforms continued to grow strongly at the core of the food delivery business and are now investing to extend that growth throug...
- UpGrad expects revenue to touch Rs 1,900 crore in FY22For upGrad, the expected revenue growth comes on the back of the company making close to five acquisitions in the current fiscal year, cont...
- ETtech Deals Digest: Eruditus, Menlo Micro, CredAvenue raise fundsSoftBank-backed executive education-focussed startup Eruditus, technology company Menlo Micro and online debt marketplace CredAvenue were a...
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