Upgrad joins unicorn club with $1.2 billion valuation

Leading online education platform Upgrad has raised its third external funding of USD 25 million from the IIFL Group, helping the re/up-skilling company join the unicorn club with a valuation of USD 1.2 billion. The Ronnie Screwvala firm got its maiden external funding in late April when the Singaporean investment giant Temasek Holdings invested USD 120 million, and in the same week the World Bank Group arm International Finance Corporation chipped in with USD 40 million, valuing it at USD 850 million.

As of August 2, 17 startups became unicorns in 2021, taking the coveted tally to close to 60 when the Pune-based Mindtickle, became one after raising USD 100-million funding round from Softbank’s Vision Fund 2.