Private Equity Fund Investments
Higher education startup upGrad raises $25-M from IIFL VC, turns unicorn
Mumbai-based higher education startup upGrad has raised USD 25 million from IIFL VC. The latest funding round totaling USD 185 million, values upGrade at $1.2 Billion, making it the third homegrown edtech unicorn after Byju's and Unacademy. In April, Temasek had invested USD 120 million and IFC USD 40 million in upGrad. The founding group of upGrade, consisting of Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli, continues to own over 70% of the company.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
