Global edtech upGrad in major funding announcement
Funding to provide boost to UK s international student population
LONDON, April 29, 2021 /PRNewswire/ South Asia s largest online higher education company, upGrad, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore.
upGrad plans to use a portion of the fresh capital to support UK institutions whose international student population has suffered as a result of the pandemic. The edtech platform plans to help more universities accessible to the world by taking services online.
The cost-effective proposition offers university partners with a new revenue stream at no extra cost, with only limited faculty time required in the first year.
Global edtech major upGrad raises USD 120 million
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- Fresh capital to scale operations in international markets, pursue M&A opportunities, and expand graduate and post-graduate degree portfolio
MUMBAI, India, April 26, 2021 /PRNewswire/ upGrad, South Asia s largest online higher education company, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore. This is the first external funding raised by the edtech major. 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.
(L-R) Phalgun Kompalli - Co-founder; Mayank Kumar - Co-founder, MD and Ronnie Screwvala - Chairman, Co-founder upGrad