upGrad, the Ed-Tech platform founded by entrepreneur Ronnie Screwvala, recently stated Temasek had invested $120 million in its first external funding since it was founded six years ago. The firm further added that it would utilize the funds to expand its market in the US and acquire smaller firms. upGrad has broken even and reported a revenue of ₹1,200 Crore in 2020-21.
The Ed-Tech startup that offers online courses in the higher education space aims to scale up operations and eyes $2-billion revenue by 2026. The firm also aims to use the fresh capital to strengthen its team further, scale global market operations, bolster its technology, and expand graduate and post-graduate degree courses and product capabilities in India and worldwide.
upGrad focuses on diplomas and certificate courses in collaboration with top Indian and global universities. The company offers more than 100 courses in partnership with the world's leading universities such as Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Duke Corporate Education (US), Swiss School of Business Management, (Geneva), Indian Institute of Technology, Indian Institute of Management, among others.