Singapore-based Temasek Invests USD 120 million into Edtech Startup UpGrad

May 2021

UpGrad, an edtech startup founded in 2015, has raised USD 120 million from Singapore-based Temasek in its first external fundraising. The company plans to use the new funds to explore merger and acquisition deals and bankroll its expansion efforts into the US, UK, Middle East, and the Asia Pacific. The startup aims to bolster its product capabilities and reach USD 2 billion in revenue by 2026.

Based in Mumbai, UpGrad’s platform offers students who have finished their K-12 education over 100 courses in collaboration with Indian and global universities, namely Duke Corporate Education (US), Michigan State University (US), IIT Madras (India), IIM Kozhikode (India) and others.

UpGrad’s registered learners can pursue a variety of courses to earn job-linked online degrees, diplomas, and certificate courses. To date, the edtech platform has impacted over 1 million total registered learners in over 50 countries across the world. UpGrad has been ranked No 1 in the LinkedIn ‘Top Startups India 2020′ list.

With the COVID-19 pandemic serving as an inflection point, the edtech space has seen strong growth globally. UpGrad has been ranked No 1 in the LinkedIn ‘Top Startups India 2020′ list.

(Sources: The Business Times; Tech in Asia)

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