Edtech platform upGrad raises $120 mn from Temasek in first external funding round
File photo
Edtech platform upGrad has made its first external fund-raise since inception in 2015. On Monday, it announced it has raised $120 million (about Rs 897.3 crore) from Singapore-based Temasek. Since its inception , upGrad has been 100 percent owned, funded, and run by its co-founders as a capital-efficient business.
The education major 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.
streetAsia s premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. SUBSCRIBE NOW
Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi
Edtech platform upGrad raises Rs 898 cr from Temasek
By IANS |
1 Views
Dollar.. Image Source: IANS News
Mumbai, April 26 : 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, which will be utilised to further strengthen its team and scale its global market operations to achieve its $2 billion revenue goal by 2026. 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, said upGrad Co-founders Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli in a joint statement.
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, .