[Funding alert] upGrad raises $120 M from Temasek

[Funding alert] upGrad raises $120 M from Temasek
Since its inception in 2015, upGrad has been 100 percent owned, funded, and run by its co-founders as a capital-efficient business.
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Temasek, making this the first external fund-raise by the edtech major.
Since its inception in 2015, upGrad has been 100 percent owned, funded, and run by its co-founders as a capital-efficient business.
upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations, and bolster its technology and product capabilities, a statement said.
The company will also pursue merger and acquisition (M&A) opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its $ 2 billion revenue goal by 2026, it added.

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