Eruditus is in advanced talks to secure $150 million in funding, potentially making it the largest fundraise by an Indian education firm in years.
If Eruditus does not meet specific performance targets, its valuation could drop to $1.8 billion from a proposed $2.3 billion.
The potential funding comes as the edtech sector faces challenges post-pandemic, with growth stalling and companies experiencing devaluations.
The Indian edtech landscape is affected by the collapse of Byju's, which once held a $22 billion valuation and now faces significant legal issues.
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