Bertelsmann Investments India, the investment arm of German media, services and education company, has acquired stakes in Eruditus Executive Education (EEE), an Indian edu-tech startup, a company press release said. Although the financial details of the deal were undisclosed, the Economic Times claims the funding was worth Rs 53 crore ($8.2 million). The investment by Bertelsmann will be used to fund new programmes and to expand Eruditus’ geographical footprint to China, Latin America and Europe.
What Eruditus does
Founded in 2010 by INSEAD alumni Chaitanya Kalipatnapu and Ashwin Damera, Eruditus develops and offers professional development, leadership, business and management courses to working professionals in India, Singapore, Dubai and other locations in collaboration with the executive education arms of INSEAD, Harvard Business School, Wharton, MIT Sloan, Columbia Business School, etc. The programmes are delivered online or in classrooms located globally.
Eruditus’ corporate clients include Accenture, Microsoft, Nomura, HSBC, Tata Consultancy, Bharat Petroleum, Reliance ADAG, etc.
Bertelsmann’s third investment in the education sector
Eruditus is the third investment made by Bertelsmann in the education sector. In the higher education sector, Bertelsmann has investments in WizIQ, which offers SaaS based education technology solutions to deliver live instructor-led and self-paced learning for self-branded online academies; and iNurture, which tries to improve employability in India by improving the industry relevance of tertiary level higher education. iNurture currently offers over twenty five programs in collaboration with twenty higher education institutions across the country.
Bertelsmann Investments India’s portfolio now consists of investments in ten start-ups–Treebo, Roposo, Pepperfry, Lendingkart, Kartrocket, Indiaproperty, Saavn, WizIQ, iNurture, Helion, Kaisen and Nirvana. Its primary focus is on digital content, e-commerce services, fintech and higher education.
Bertelsmann also has investments in media and content sector through the RTL Group, via its production arm Fremantle Media, which produces shows such as Confessions – It’s Complicated, Indian Idol, The X Factor, and Got Talent. RTL Group also acquired a majority stake in YoBoHo, a producer of children’s programing distributed via YouTube and other online outlets.