Another Indian startup becomes Unicorn
The executive education startup Eruditus has become a unicorn company.
For the knowledge of our readers, unicorn startups are those startups that have a valuation above $1 billion.
The online executive education startup Eruditus has become a unicorn company by raising $650Mn in the funding round led by venture capital firm Accel US and Japan’s SoftBank Vision Fund II.
The startup has raised funding at the valuation of $3.2Bn. The valuation has jumped nearly four times from $0.8Bn to $3.2Bn.
Out of the total amount raised, $430Mn will be received in the form of primary capital whereas the remaining amount i.e. $250Mn will go to existing backers like Bertelsmann, which is part selling its shares.
In the past 2 weeks, 5 Indian startups namely- UpGrad, CoinDCX, Mindtickle, BharatPe, and OfBusiness have become unicorns.