Private Equity

PE Fund Investments

Edtech co upGrad raises Rs.81-Cr more from Temasek

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Mumbai-headquartered edtech startup upGrad has raised INR 81 crore from existing shareholder Temasek. Ronnie Screwvala, co-founder and chairperson of upGrad, contributed INR 212 crore to this round which totaled INR 300 crore. Founded by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli in 2015, upGrad spans segments from test prep and study abroad to undergrad degrees and campus courses in 250 universities. Its offerings include finance, law, business, and software. It operates out of 31 offices across India, the USA, the UK, the Middle East, Singapore, and Vietnam.

From the Venture Intelligence PE-VC Deal Database: Between Apr-2021 and Jul-2022, Upgrad had raised over USD 415 M from Lupa Systems, ETS Global, Temasek, IFC, and IIFL AMC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)