UpGrad earmarks $250 million for mergers and acquisitions over next 7-9 months

Mumbai: Edtech startup UpGrad said it has earmarked $250 million for mergers and acquisitions over the next 7-9 months on the back of its funding round earlier this year.

The Mumbai-based company, promoted by media entrepreneur Ronnie Screwvala, had raised $120 million in April from Singapore’s sovereign fund Temasek which valued it at around $575-675 million.

“Outside of cash, we see a very strong value currency in our stock to look to merge/acquire companies with exceptional founders who will join us as fellow entrepreneurs to build this out over the next decade,” said Screwvala.