PE Fund Investments
Edtech unicorn UpGrad raises $225-M from Lupa Systems, ETS, others at $2.5 B valuation
Mumbai-based education technology unicorn UpGrad Education has raised USD 225 million in fresh funding, at USD 2.25 Billion valuation, in a round that saw participation from James Murdoch's Lupa Systems LLC and US testing and assessment provider Educational Testing Service (ETS). The family offices of Lakshmi Mittal of steelmaker ArcelorMittal SA and Sunil Bharti Mittal of Bharti Airtel also participated in the round, as did existing investors including Temasek Holdings UpGrad spans segments from test prep to study abroad, and undergrad degrees to campus courses in 250 universities. Its offerings include finance, law, business and software for the 18-60 age group.
From the Venture Intelligence PE-VC Deal Database: In Mid 2021, UpGrad had raised USD 190 M from IFC, Temasek and IIFL VC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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