Edtech Unicorn Eruditus’ FY22 Net Loss Widens 46% To $386 Mn

Edtech Unicorn Eruditus’ FY22 Net Loss Widens 46% To $386 Mn

SUMMARY

Eruditus, which turned a unicorn in August 2021, reported a net loss of $264.2 Mn in FY21

The SoftBank-backed startup’s operating revenue jumped 1.8X YoY to $245.2 Mn in FY22

Total expenses jumped almost 80% to $710.4 Mn, with marketing cost doubling to $141.6 Mn

Singapore-incorporated Indian edtech startup Eruditus’ consolidated net loss rose 46% year-on-year (YoY) to $386.8 Mn in the year ended June 30, 2022 (FY22) as its marketing expenses more than doubled during the year.

The startup, which turned a unicorn in August 2021, had reported a net loss of $264.2 Mn in the year ending June 30, 2021 (FY21).

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