Edtech patform upGrad close to $100 mn funding round from Temasek, IFC
Higher education-focused edtech platform upGrad seems to be in talks with Singapore-based sovereign wealth fund Temasek and World Bank’s International Finance Corporation (IFC) to raise $100 mn in a fresh funding round. The company is raising the capital at a valuation of $450 Mn-$500 Mn.
upGrad focuses on higher education courses by tying up with universities in India and abroad. Besides this, it also provides technical skill development training to professionals for in-demand jobs. It aims to help working professionals and students by providing them with university education online through structured programmes and facilities which include courses on new-age technologies, product development, digital marketing, management, entrepreneurship among others.
Claims to have over half-a-million users globally, of which 30K are said to be paying users. The company is also looking to offer end-to-end support for learners across the lifecycle – from learning to employment. It acquired recruitment and staffing solutions company Rekrut India in December 2020.