Edtech firm upGrad becomes new unicorn at $1.2 billion valuation

Global online higher education provider upGrad on Monday became another unicorn from the country, after it announced to close a total of $185 million funding round at a market valuation of $1.2 billion.

The company raised fresh funds from Temasek, IFC (International Finance Corporation, a sister organisation of World Bank) and IIFL.

“We are very focused on our path to being in the top three-five companies globally in edtech and serving the one billion workforce across the age group of 18-60. We are pleased with the investor interest ever since we opened up for a fundraise, and had our maiden raise from Temasek, followed by IFC and IIFL in the last 60 days,” said Ronnie Screwvala, Chairperson and Co-founder, upGrad.