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 per cent 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 USD 2 billion revenue goal by 2026, it added.
upGrad raises Rs 897 crore from Temasek
upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations and bolster its technology and product capabilities
PTI | April 26, 2021 | Updated 11:54 IST
upGrad on Monday said it has raised $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 per cent 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.
[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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Highlights
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.