Total amount raised
$782.7 Millions
Latest funding date
Location
Title
UpGrad has successfully raised significant funding over multiple rounds, achieving a valuation that places it among the elite unicorns in the education technology sector.
Keep reading to explore the intricacies of UpGrad's fundraising journey and the investors backing this innovative platform.
What Is UpGrad?
UpGrad, founded in 2015, is an online higher education platform based in Mumbai, Maharashtra, India. The company was established by Mayank Kumar, Phalgun Kompalli, Ravijot Chugh, and Ronnie Screwvala.
UpGrad offers a variety of online degree courses and certification programs in fields such as AI & ML, MBA, Data Science, Marketing, Management, Software & Tech, and Law. The platform also provides resources like free courses, masterclasses, and tutorials to help learners achieve their career goals.
With a workforce of over 10,001 employees, UpGrad is dedicated to providing upskilling programs for working professionals and fresh graduates, ensuring they stay competitive in the ever-evolving job market.
How Much Funding Has UpGrad Raised?
Amount Raised: ₹500M
Date: August 2020
Lead Investors: 360 ONE Asset
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support operational expenses and growth initiatives.
Amount Raised: $9.3M
Date: April 2021
Lead Investors: Unilazer Ventures
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To expand course offerings and enhance platform capabilities.
Amount Raised: $120M
Date: April 2021
Lead Investors: Temasek Holdings
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To scale operations and enter new markets.
Amount Raised: $65M
Date: August 2021
Lead Investors: IIFL Finance, International Finance Corporation
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To enhance technological infrastructure and expand global reach.
Amount Raised: $225M
Date: June 2022
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To accelerate growth and invest in new educational technologies.
Amount Raised: ₹16.4B
Date: August 2022
Lead Investors: Ets Global
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To expand course offerings and strengthen market position.
Amount Raised: ₹3B
Date: March 2023
Lead Investors: Ronnie Screwvala
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support strategic acquisitions and partnerships.
Amount Raised: ₹2.9B
Date: June 2024
Lead Investors: EvolutionX Debt Capital
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To manage debt and improve financial stability.
Amount Raised: $20M
Date: October 2024
Lead Investors: Ronnie Screwvala
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To consolidate ownership and prepare for future growth.
Amount Raised: $60M
Date: October 2024
Lead Investors: Temasek Holdings
Valuation at Round: $2.25 billion
Motivation Behind the Round: To prepare for an IPO and scale operations.
Total Amount Raised: $1.1B
Current Valuation: $2.25 billion
Key Investors
- Ronnie Screwvala
- Details: Ronnie Screwvala is a co-founder of UpGrad and a prominent entrepreneur in India. He has a significant role in the strategic direction of the company.
- Investment Focus Areas: Media, entertainment, education.
- Notable Investments: UTV Group, Swades Foundation, UpGrad.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It is a sovereign wealth fund with a diverse portfolio.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba, Airbnb, Gojek.
- 360 ONE Asset
- Details: 360 ONE Asset is a leading asset management firm. It focuses on providing investment solutions across various asset classes.
- Investment Focus Areas: Equity, fixed income, real estate, alternative investments.
- Notable Investments: Not publicly disclosed.
- International Finance Corporation (IFC)
- Details: IFC is an international financial institution that is part of the World Bank Group. It focuses on private sector investments in developing countries.
- Investment Focus Areas: Infrastructure, manufacturing, agribusiness, services, financial markets.
- Notable Investments: Airtel Africa, Banco Davivienda, Tata Group.
- IIFL Finance
- Details: IIFL Finance is a diversified financial services company in India. It offers a wide range of financial products and services.
- Investment Focus Areas: Loans, wealth management, asset management, financial advisory.
- Notable Investments: Not publicly disclosed.
What's Next for UpGrad?
UpGrad's future looks promising with significant opportunities on the horizon. The recent $60 million investment from Temasek and Ronnie Screwvala's acquisition of Bharti Enterprises' stake set the stage for an upcoming funding round. With plans to go public within the next 7-8 quarters, UpGrad is poised to capitalize on the growing demand for online education and upskilling.
However, the path ahead is not without challenges. The company must navigate the complexities of preparing for an IPO while maintaining its growth and valuation amidst increasing competition in the edtech sector. Additionally, integrating new investments and managing stakeholder expectations will be crucial for UpGrad's continued success.
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