Debt Debt financing
Edtech co. upGrad raises $35-M debt from EvolutionX
Mumbai-headquartered higher education and upskilling-focused edtech unicorn upGrad has raised INR 287.5 crore (around USD 35 million) from EvolutionX Debt Capital. The company is to issue 28,75,000 debentures at an issue price of INR 1,000 each to raise INR 287.5 crore. The funds will be used for growth, operating expenses and general corporate purposes.
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Between Jan 2015 and July 2022, upGrad had raised over USD 438 M from Temasek, IFC, IIFL AMC, Unilazer Ventures, Lupa Systems and ETS Strategic Capital.