World-wide edtech key upGrad raises USD 120 million


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Financial investment money to scale operations in global marketplaces, go after M&A prospects, and expand graduate and put up-graduate diploma portfolio

MUMBAI, India, April 26, 2021 (World NEWSWIRE) — upGrad, South Asia’s most significant on-line greater training organization, nowadays declared that it has elevated USD 120 million from Temasek, a worldwide financial investment enterprise headquartered in Singapore. This is the initially external funding lifted by the edtech important. Given that its founding six several years back in 2015, upGrad has been 100% owned, funded, and run by its co-founders as a money-productive business.

upGrad strategies to use the funding to even more reinforce its team, scale its operations globally in the U.S. and other advancement markets, bolster its technology and products abilities, pursue M&A chances, expand graduate and publish-graduate degree portfolio in India, and scale up functions to accomplish its USD $2 billion profits aim by 2026, thus reinforcing its placement as a worldwide increased-edtech leader emerging from India.

“We welcome Temasek in our mission to power career results for every and every member of the worldwide workforce as their trusted LifeLongLearning associate and generate significant job outcomes,” stated upGrad Co-Founders Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli. “This cash will further gasoline our commitment towards world growth as nicely as further India penetration, as we march ahead with our target of producing India the instructing capital of the environment.”

Credit Suisse acted as the exclusive economical advisor to upGrad, and Rajaram Authorized acted as authorized advisor.

About upGrad

upGrad is South Asia’s premier on the internet higher edtech company providing 100+ programs in collaboration with leading-notch global universities like Duke Company Education (US), Michigan Point out College (US), Liverpool John Moores University (United kingdom), Deakin Business University (Australia), Swiss University of Company Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and other people. Started in 2015, the international edtech leader has impacted more than 1 million total registered learners around 50+ nations throughout the environment.

upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 listing. This is the 3rd time in a row that upGrad has been highlighted in the LinkedIn Top Startup checklist just after 2018 and 2019. It is also among GSV Worldwide EdTech 50 and has ranked among the Best 50 in the FT Asia-Pacific Significant-Advancement Businesses 2021.

To know far more, go to: www.upgrad.com

About Temasek

Temasek is an financial investment firm with a web portfolio benefit of S$306 billion (US$214 billion) as of 31 March 2020. Its three roles as an Trader, Establishment and Steward, as described in the Temasek Constitution, form Temasek’s ethos to do well, do appropriate and do excellent. Temasek actively seeks sustainable remedies to address current and potential worries, via expenditure and other chances that help to bring about a improved, smarter and additional sustainable world.

For extra info on Temasek, remember to check out www.temasek.com.sg

Patrick Milan
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