Technology

Eruditus Secures $150 Million Series F Funding Led by TPG’s The Rise Fund

Published

2 years ago

October 18, 2024

With participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative

Eruditus, the parent company of Emeritus, closes funding round to deepen investment in AI products and accelerate growth of enterprise business after achieving profitability

MUMBAI, India, Oct. 18, 2024 /PRNewswire/ — Eruditus, the global leader in making high-quality education accessible and affordable to individuals, companies, and governments around the world, announced today that it has raised a $150 million Series F fundraise led by TPG’s The Rise Fund, the multi-sector strategy of TPG’s global impact investing platform, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative. This highlights the company’s remarkable growth and impact through continuous innovation in high-quality career-oriented education across the globe. The raise comes on the heels of a banner year for Eruditus in which the company was named the #1 Global EdTech by Time and achieved profitability on a full-year basis.

The funding bolsters Eruditus’ global growth and will be used to invest in AI technology to further enrich the learner experience, expand the company’s rapidly growing business serving governments and enterprises and deepen its investments in the India and APAC regions. As the company continues to grow and scale, it eyes future acquisitions and investments, which have historically contributed to impressive topline growth and expansion in strategic markets. Avendus Capital was the exclusive financial advisor for the fundraise.

Eruditus’ mission to make high quality education accessible and affordable around the world has never been more critical. Business today is changing faster than ever—and the AI revolution means it’s set to change even faster. The company is accelerating its investments in technology to harness the power of generative AI to further enrich the learner experience and provide enhanced learning solutions. Eruditus has already launched proprietary AI-powered tutors for students and programs with partner schools. The need for training in the age of AI is driving unprecedented demand for the company’s enterprise solutions that grew revenue 45% last year.

Steve Ellis, a Managing Partner of The Rise Funds, said “Eruditus is expanding access to new education opportunities and giving professionals at all stages of their careers the skills they need to advance and succeed in today’s rapidly changing workplace. Eruditus’ mission aligns with a core investing theme for The Rise Funds, which focuses on backing strong businesses that are opening pathways to high quality education and driving greater lifetime earning potential for their students. We look forward to working with Eruditus to further enhance the platform and scale the business globally.” As part of The Rise Fund’s investment, TPG’s Simit Batra will join Eruditus’ board of directors.

Today, more than 80+ top tier university partners around the world work with Eruditus to create over 700 professional learning programs delivered to more than 1 million individuals in 80+ countries. The company’s industry-driven certification programs, professional certificates, and workforce leadership development initiatives are defined by personal engagement between faculty and students, course customization, mentoring and coaching, and career counseling. The results are evident in course completion rates of 85% for their professional learners.

“With this investment, we’re excited to continue to grow and innovate to meet market demand,” said Ashwin Damera, CEO, Eruditus and Emeritus. “In a rapidly evolving business environment, we have reimagined education by bringing programs from the world’s leading universities to learners around the globe. Education is the key to transformation, for individuals, companies, and society and we’re appreciative of the support of our investors who enable us to accelerate our growth.”

About Eruditus
Eruditus, the parent company of Emeritus, is committed to teaching the skills of the future by making high-quality education accessible and affordable to individuals, organizations, and governments worldwide. It does this by collaborating with more than 80 top-tier universities across the United States, Europe, Latin America, Southeast Asia, India, and China. Eruditus’ short courses, degree programs, professional certificates, and senior executive programs help individuals learn new skills and transform their lives, companies, and organizations. Its unique model of state-of-the-art technology; curriculum innovation; and hands-on instruction from senior faculty, mentors, and coaches has educated more than 1 million individuals across 80+ countries. The Eruditus Group has more than 1,750 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. The company is backed by TPG, the Chan Zuckerberg Initiative, Leeds Illuminate, Prosus Ventures, GSV Ventures, Peak XV, Bertelsmann, CPP Investments, Accel and SoftBank Vision Fund 2. For more information, please visit www.Emeritus.org.

About The Rise Funds
The Rise Funds are a core pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016, The Rise Funds invest behind impact entrepreneurs and growth-stage, high potential, mission-driven companies that are focused on achieving the United Nations’ Sustainable Development Goals. The Rise Funds deliver capabilities and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and agriculture, financial inclusion, healthcare, and impact services.

With approximately $19 billion in assets across The Rise Funds, TPG Rise Climate, and the Evercare Health Fund, the TPG Rise platform is one of the world’s largest private markets impact investing platforms committed to achieving measurable, positive social and environmental outcomes alongside competitive financial returns.

For more information, visit therisefund.com.

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Technology

Trip.com Group Sincerely Accepts Administrative Penalty Decision Issued by the State Administration for Market Regulation of the People’s Republic of China

Published

2 hours ago

July 25, 2026

SINGAPORE, July 25, 2026 /PRNewswire/ — Trip.com Group Limited (Nasdaq: TCOM; HKEX: 9961) today announced that it has received the administrative penalty decision issued by the State Administration for Market Regulation of the People’s Republic of China.

Trip.com Group sincerely accepts the decision and will adopt rectification measures in accordance with applicable laws and regulations to implement the decision’s requirements. The Company will strengthen its long-term governance mechanisms and strive to contribute to the sustainable development of the travel industry.

Trip.com Group’s management team will host a conference call at 8:00 AM U.S. Eastern Time on July 27, 2026 (or 8:00 PM Hong Kong Time on July 27, 2026).

The conference call will be available on Webcast live at: http://investors.trip.com.

All participants must pre-register to join this conference call using the participant registration link below:
https://register-conf.media-server.com/register/BIb78e08d8f18340c4882a7e4ab961906b.

Upon registration, each participant will receive details for this conference call, including dial-in numbers and a unique access PIN. To join the conference, please dial the number provided, enter your PIN, and you will join the conference instantly.

For further information, please contact:
Investor Relations
Trip.com Group Limited
Email: iremail@trip.com

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SOURCE Trip.com Group Limited

Technology

NAVER Partners with Brookfield and NVIDIA to Expand Korea’s National AI Factory Infrastructure Buildout

Published

4 hours ago

July 25, 2026

SAN FRANCISCO, July 25, 2026 /PRNewswire/ — NAVER, Brookfield and NVIDIA announced an expansion of Korea’s sovereign AI factory infrastructure. New investments will increase the initial NVIDIA DSX™ AI factory deployment from 55 megawatts to 200 megawatts.

Announced during Korea President Jae Myung Lee’s AI Summit visit to San Francisco, the planned 200-megawatt expansion will be built with the NVIDIA DSX platform at NAVER’s GAK Sejong hyperscale data center in Sejong, South Korea. The expanded infrastructure will provide Korea- and U.S.- based AI innovators with access to production-scale AI compute for building next-generation models, agents and AI-powered services.

Under the terms of the agreements, Brookfield will fund up to $9 billion as the exclusive capital partner, NVIDIA will invest $1 billion and NAVER will fund the remaining amount to finance the $10 billion project.

This builds on NAVER’s June announcement to extend its GAK Sejong data center with NVIDIA DSX, with a long-term path to gigawatt-scale sovereign AI infrastructure serving Korea’s enterprises, industries, government organizations and global AI cloud customers. Combining Brookfield’s capital with NVIDIA’s computing platform, the investment supports NAVER’s AI factory deployment.

“NVIDIA’s strategic investment and our infrastructure supply agreement with Brookfield have propelled NAVER’s vision for the AI Factory business into a robust execution phase,” said Haejin Lee, Founder and Chairman of NAVER. “Leveraging the solid partnerships with our global partners, we will drive technological innovation, foster a sovereign AI ecosystem, and spearhead efforts to strengthen South Korea’s AI competitiveness.”

AI Factory Expansion and Open Model Collaboration to Fuel AI Innovators

NAVER, as an NVIDIA Cloud Partner, provides deep expertise in operating hyperscale infrastructure powered by the full-stack NVIDIA AI platform. The 200-megawatt AI factory, featuring NVIDIA Vera Rubin and Blackwell platforms, will establish a dedicated resource pool for emerging AI companies, providing the compute, software and support needed to develop and deploy competitive AI models and applications at scale.

This expanded infrastructure also builds on NAVER and NVIDIA’s collaboration on open model development for agentic and physical AI. NAVER is advancing its HyperCLOVA X models to be based on NVIDIA Nemotron™ 3 Ultra open models with its proprietary data and training expertise. NAVER is also the first Korean company to join the NVIDIA Nemotron Coalition, contributing to open model development across pretraining, post-training and reinforcement learning.

NAVER plans to launch an AI agent platform in Korea in the second half of the year, powered by NVIDIA Agent Toolkit software including NVIDIA NemoClaw™ blueprints. NAVER is also developing a Seoul World Model using proprietary urban street-view and spatial modeling data, built on NVIDIA Cosmos™ world foundation models.

About NAVER

Founded in 1999, NAVER is Korea’s largest Internet company and one of the world’s top tech companies. Leading cutting-edge technologies, NAVER operates the No.1 search engine in Korea and holds various business portfolios encompassing commerce, fintech, cloud, AI and robotics.

NAVER recorded sales of KRW 12.04 trillion (USD 8.18 billion) in 2025. TEAM NAVER continues to enhance its business portfolio and expand its global presence across Japan, North America, and Europe, while pursuing innovation through continuous research and development in future technologies.

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SOURCE NAVER

Technology

Beijing Review: Walking Through Time: China and U.S. Youths Explore Dali’s Past and Future

Published

4 hours ago

July 25, 2026

BEIJING, July 24, 2026 /PRNewswire/ — On July 17, a China-U.S. youth delegation came to Dali of Yunnan Province. By examining how Dali’s rich history intersects with modern development, the delegates explored new pathways for rural development.

They visited Dali Old Town, tried their hand at making the Bai people’s Three-Course Tea and also explored the ancient town of Xizhou, where they learned how modern tourism and indigenous life coexist.

In Yunnanyi Village, they explored its history as a stop along the Tea Horse Road and learned about the role it played during the Second World War (WWII).

Tyler James Smith

“I think it’s a very underappreciated part of World War II history. Hearing these stories of different countries working together despite cultural differences is incredibly inspiring.

I also think there are many stories like these that haven’t been widely told, simply because World War II is such a complex period in history. That’s why I think it’s so meaningful to visit museums like this and experience these stories firsthand.”

At Xiangyun Economic and Technological Development Zone, they visited a local new energy company to see how green, low-carbon development is driving regional growth.

Valerie Marie

“I recently started studying energy transitions. I know China has been really big in the renewable energy sector. So actually getting to hear more about [China’s] 2060 [pledge], learning more about carbon neutrality [goals], as well as other zero-carbon goals, was cool.”

During their stay in Dali, they also strolled along the Erhai Lake Ecological Corridor.

Bai Yiwen

“I’d describe this journey as “to be continued,” because my own connection with Yunnan is far from over. For the U.S. delegates, this was only their first visit, so they’ve only had a glimpse of what Yunnan has to offer. I hope they will have more opportunities to come back to China, explore other cities in Yunnan, and discover even more of its people, culture and traditions.”

After Dali, the delegates will visit Beijing for more tours and exchanges. The event was co-hosted by China International Communications Group (CICG) Center for the Americas and the U.S.-based International Student Conferences.

https://x.com/beijingreview/status/2080104404552663067?s=46&t=yfVMVdMyE2zKAFrYaLoV-g

https://www.facebook.com/share/v/1EtGCCKzy4/?mibextid=wwXIfr

https://www.tiktok.com/@cachinachic/video/7665536913532587294?is_from_webapp=1&sender_device=pc&web_id=7227134149436605995

https://youtu.be/jGONWTqwduc?is=KfL-Zn3HyVYE-KEm

Contact: Jiaweibellapeng@163.com

View original content:https://www.prnewswire.com/news-releases/beijing-review-walking-through-time-china-and-us-youths-explore-dalis-past-and-future-302834587.html

SOURCE Beijing Review