Edtech platform upGrad raises Rs 898 cr from Temasek

Source : IANS 2021-04-26 11:49:26

Edtech platform upGrad on Monday said it has raised $120 million (approximately Rs 898 crore) from Singapore-based global investment company Temasek.

The company said that this is the first external funding since its was founded six years ago, which will be utilised to further strengthen its team and scale its global market operations to achieve its $2 billion revenue goal by 2026.

"This capital will further fuel our commitment towards global expansion as well as deeper India penetration, as we march forward with our goal of making India the teaching capital of the world," said upGrad Co-founders Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli in a joint statement.