ERUDITUS

Prosus writes off 9.6% stake in Byju's worth $493 million due to value decrease as per HSBC note. Also marks investment in Primrose Hill (ZestMoney) to zero against $38 million FY22.

Happy Monday! Ecommerce major Flipkart is in discussions to shift its domicile from Singapore to India. This scoop and more in today’s ETtech Morning Dispatch.

Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.

Increasing number of large startups across sectors looking to shift from US, Singapore

BITS Pilani alumni Sid Mookerji and Anuradha and Prashanth Palakurthi have pledged $1 million each to the BITS Endowment Fund, totaling recent commitments to $3 million. Prashanth Palakurthi, a technology entrepreneur, and Anuradha, his wife, previo...

Giving high increments, stock options, bonuses, global roles and accelerated promotions to ringfence people who are critical to business.

This pledge not only propels the initiative forward but also sets a precedent for alumni engagement and contribution, the institute said in a statement on Monday.

The financial capital's fast pace of infrastructure development and increasing access to capital and talent is attracting startup founders and investors.

GSV Ventures has backed Indian edtech unicorns including Eruditus, Lead, PhysicsWallah as well as startups like Classplus. Deborah Quazzo also spoke about the lack of equilibrium between edtech founders and investors on valuations, which is delaying...

Edtech unicorn Eruditus is planning a shift in domicile from Singapore to India, or reverse flipping, and joins the growing list of Indian internet firms — Pine Labs, Udaan, Razorpay and Groww, among others. Eruditus is evaluating a listing on the d...

Indian IT majors are eyeing upcoming US federal contracts as several large deals are set for renewal in the next two quarters. While it is still challenging for Indian companies to win these contracts, there is a more positive attitude towards India...

Makkar's message to Eruditus was unequivocal: "To unlock real growth and scalability, you need to embrace the online realm," shared Ashwin Damera, CEO and Co-founder of Eruditus.“The feedback you gave us was very valid, and very constructive, which ...

SoftBank took its India portfolio companies on an AI tour in Silicon Valley to meet senior officials from AI companies like OpenAI and Anthropic. The discussions focused on implementing AI tools in enterprises, best practices, and recent technology ...

Generative artificial intelligence (AI) has stunned companies and commoners alike with its abilities. But with public attention comes regulatory scrutiny. Experts say that India’s new data protection bill may be tough for platforms like ChatGPT and ...

Revenue rose to $400 million (around Rs 3,280 crore as per current exchange rates) in 2022-23 from $245 million the previous year, said Ashwin Damera. Eruditus follows a July-June fiscal year.

​​Prosus, which has backed companies such as Byju’s, PharmEasy and Eruditus, holds a 33% stake in Bengaluru-based Swiggy.

The 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 which the Mumbai-based startup had last raised equity-based capital from investors.

In the financial year ending FY21, Eruditus had reported a cash loss of $31 million, filings reviewed by ET showed. The Mumbai-based edtech unicorn’s total net loss swelled by 46% to $386.82 million, including exceptional items, the filings showed.

Ashwin Damera, the CEO and Co-Founder of Emeritus and Eruditus, explains why company opted for the "Small Private Online Courses" (SPOCs) model instead of the more popular "Massive Open Online Courses" (MOOCs) model. He also goes on to suggest ways ...