upGrad raises $120 million from Temasek
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AAA upGrad, an online higher education company, Monday announced that it has raised $120 million from Temasek, the Singapore based investment company. This is the first external funding raised by the firm.
Since its founding six years ago in 2015, upGrad has been 100% owned, funded, and run by its co-founders as a capital-efficient business.
upGrad said it will use the fresh capital to further strengthen its team, scale its global market operations, bolster its technology and product capabilities, pursue M&A opportunities, expand graduate and post-graduate degree portfolio in India.
upGrad Co-Founders Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli in a joint statement said, This capital will further fuel our commitment towards global expansion as well as deeper India penetration, as we march forward with our goal of making India the teaching capital of the world.”
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Since its inception in 2015, upGrad has been 100 percent owned, funded, and run by its co-founders as a capital-efficient business.
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 USD 2 billion revenue goal by 2026, it added.
The platform has impacted over 1 million total registered learners in over 50 countries.
upGrad on Monday said it has raised USD 120 million (about Rs 897.3 crore) from Singapore-based 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.
Edtech platform upGrad on Monday said it has raised $120 million (approximately Rs 898 crore) from Singapore-based global investment company Temasek.The company said that this is the first external funding since its was founded six years ago, .
With $120 million infusion, UpGrad poised to turn unicorn indiantelevision.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiantelevision.com Daily Mail and Mail on Sunday newspapers.
upGrad raises Rs 897 crore from Temasek- Business News businesstoday.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstoday.in Daily Mail and Mail on Sunday newspapers.