Total amount raised
$782.7 Million
Latest funding date
10/1/2024
Location
UpGrad has successfully raised funding through 10 rounds, with backing from 17 investors, including notable names like Ronnie Screwvala and Temasek Holdings. The platform offers a wide range of courses aimed at upskilling working professionals and fresh graduates, collaborating with top universities and institutions.
Keep reading to explore the intricacies of UpGrad's fundraising journey and the investors backing this innovative platform.
What Is UpGrad?
UpGrad, founded in Mumbai, Maharashtra, India, is a prominent player in the E-Learning, EdTech, and Education industries. The company has a substantial workforce, boasting over 10,001 employees. It offers a diverse range of online higher education programs aimed at upskilling professionals and fresh graduates.
With a focus on fields such as Artificial Intelligence, Machine Learning, MBA, Marketing, Management, Education, Project Management, and Data Science, UpGrad collaborates with top universities and institutions to deliver high-quality education. The platform also provides free courses and enterprise solutions, ensuring a comprehensive learning experience for its users.
How Much Funding Has UpGrad Raised?
- Series Unknown
- Amount Raised: USD 9,300,000
- Date: April 2021
- Lead Investors: Unilazer Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in the edtech sector.
- Series Unknown
- Amount Raised: USD 120,000,000
- Date: April 2021
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel the company's expansion and enhance its educational offerings.
- Series Unknown
- Amount Raised: USD 65,000,000
- Date: August 2021
- Lead Investors: IIFL Finance, International Finance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and operational needs.
- Series Unknown
- Amount Raised: USD 225,000,000
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's reach and enhance its educational programs.
- Series Unknown
- Amount Raised: INR 16,380,000,000
- Date: August 2022
- Lead Investors: Ets Global
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion in the edtech sector.
- Series Unknown
- Amount Raised: INR 3,000,000,000
- Date: March 2023
- Lead Investors: Ronnie Screwvala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's educational offerings and expand its market presence.
- Debt Financing
- Amount Raised: INR 2,875,000,000
- Date: June 2024
- Lead Investors: EvolutionX Debt Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational and growth activities, ensuring liquidity and financial stability.
- Secondary Market
- Amount Raised: USD 20,000,000
- Date: October 2024
- Lead Investors: Ronnie Screwvala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To consolidate control and prepare for an upcoming funding round and eventual public offering.
- Series Unknown
- Amount Raised: USD 60,000,000
- Date: October 2024
- Lead Investors: Temasek Holdings
- Valuation at Round: USD 2.25 billion
- Motivation Behind the Round: To support UpGrad's growth and expansion in the higher education and upskilling sector.
Total Amount Raised: USD 1,000,000,000
Current Valuation: USD 2.25 billion
Key Investors
- Ronnie Screwvala
- Details: Ronnie Screwvala is the founder and chairman of UpGrad. He has increased his ownership in the company to 45% by acquiring Bharti Enterprises' stake for $20 million.
- Investment Focus Areas: Education, Media, EdTech
- Notable Investments: UpGrad, UTV
- Temasek Holdings
- Details: Temasek Holdings is a Singaporean sovereign wealth fund. It has invested an additional $60 million in UpGrad, maintaining the company's valuation at $2.25 billion.
- Investment Focus Areas: Education, Technology, Healthcare
- Notable Investments: UpGrad, Alibaba, Gojek
- EvolutionX Debt Capital
- Details: EvolutionX Debt Capital is a debt financing firm. It has provided INR 2,875,000,000 in debt financing to UpGrad to support operational and growth activities.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: UpGrad
- Ets Global
- Details: Ets Global is an investor in UpGrad. It participated in a funding round in August 2022, contributing to the company's growth and expansion.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: UpGrad
- IIFL Finance
- Details: IIFL Finance is a financial services company. It has invested in UpGrad to support the company's growth and operational needs.
- Investment Focus Areas: Financial Services, Real Estate, Infrastructure
- Notable Investments: UpGrad, Byju's, Swiggy
What's Next for UpGrad?
UpGrad stands at the cusp of significant opportunities, bolstered by a $60 million investment from Temasek and plans for an IPO within the next 7-8 quarters. This funding will enable UpGrad to expand its course offerings and partnerships with universities, enhancing its market presence and educational impact.
Future fundraising efforts are likely to be robust, with additional rounds anticipated to support growth and potential acquisitions. The IPO will be a pivotal moment, providing the capital needed to scale operations and enter new markets. However, challenges such as integrating acquisitions and maintaining profitability in a competitive edtech landscape will require strategic navigation.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like UpGrad and gather other critical business insights. Sign up for free and unlock the potential of data-driven decision-making today.
