Tax officials visit ed-tech startup upGrad’s office

The tax officials have visited an office of Temasek-backed ed-tech startup upGrad for a routine survey, the company said on Wednesday.

“It’s a routine survey and we are fully compliant and cooperating with the department,” Koell Hemdev, head of legal at upGrad, said in a statement, without sharing more details of the visit.

The goods and services tax department, which visited UpGrad, did not immediately respond to a Reuters’ request for comment.

UpGrad, backed by Temasek and James Murdoch’s Lupa Systems, was valued at more than $2 billion last year and offers online MBA and executive education courses by partnering with local and foreign universities.