Singaporean state-owned investment firm Temasek has just invested $60M in upGrad! They’re an India-founded edtech that focuses on upskilling and higher education.

• They’ve had over 2M users across 100 countries.

The details. The Series F investment allegedly maintains upGrad’s $2.25B valuation.

• Founder and Chairman Ronnie Screwvala also acquired Bharti Enterprises 1% stake in upGrad for $20M.
• With the secondary transaction, this takes the total funding round to $80M.
• Ronnie now has now increased his 44% stake in upGrad to a 45% stake.
• They raised their first round of external funding in 2015.

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🤔 What’s Up, Grad?

Founded in 2015, they offer courses for higher education and for upskilling. They’ve got degrees, certifications, bootcamps, study abroad, and more!

• They’ve partnered with over 20 tier 1 and tier 2 universities.
• They offer more than 70 courses in the fields of data science, management, digital transformation, tech and law.

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🤩 Talking about the future

One of the co-founders, Mayank Kumar has left the firm to focus on a new startup. At the same time, Ronnie is taking a more active role.

There have been talks of a potential IPO in the next 7-8 quarters, so stay tuned!