UpGrad Raises $36.4 Million at a Valuation of about $2.25 Billion

UpGrad is an education technology unicorn that is one of India’s largest online higher education companies. The platform creates immersive online learning experiences for our learners globally by using the latest technology, pedagogy, industry partners, and world-class faculty. UpGrad offers programs in Data Science, Technology, Management, and Law, to students, working professionals, and enterprises. Currently, the company has over 2 million learners from more than 100 countries enrolled.

Edtech platform upGrad has announced that it has raised $36.4 million via right issue from Singapore government investment vehicle Temasek and others. This is the first fundraise of the Mumbai-based unicorn in 2023.

UpGrad was founded in 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh. upGrad was formed to improve the lives of working professionals by helping them upskill while they work. From being incepted in 2015 to teaching 10.000+ learners in 2018 to crossing the 1 million mark in 2020 – upGrad has always remained dynamic and future-centric. In 2021, UpGrad entered the unicorn club with a valuation of $1.2 billion. “The company is focused on its organic and inorganic growth across multiple verticals of formal education via degree, diploma, and doctorate courses in partnership with the best universities in India and globally,” the statement said.

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