IFC to invest $40 million in Upgrad; promoters pare stake to 75%

Online up-skilling platform Upgrad has concluded another funding round of $40 million (about Rs 290 crore) from the World Bank arm IFC, bringing down the promoters’ holding in the firm to 75%. It had recently secured a $120 million funding from Singaporean investor Temasek Holdings,

The equity infusion of $160 million in two quick rounds takes the Mumbai-based startup closer to unicorn status, valuing the around six-year-old company at $850 million. This is the second external funding for the company.