TPG Nears $150M Funding in India’s Eruditus at $2.3B Valuation

• Eruditus, an Indian edtech startup, is in advanced talks to secure about $150 million in new funding, sources told TechCrunch.
• TPG, a major private equity player, is expected to lead the investment, valuing Eruditus at up to $2.3 billion.
• This valuation is contingent on Eruditus meeting specific performance targets; failing to do so could drop the valuation to $1.8 billion.
• The new valuation is a decrease from the $3.2 billion valuation during its last funding round in August 2021.
• The potential investment could boost the struggling edtech sector, which has faced challenges post-pandemic.

Source: TechCrunch