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Existing stakeholder Temasek contributed Rs 81 crore and upGrad chairperson Ronnie Screwvala contributes Rs 212 crore with other minority stakeholders completing the balance

In an internal rights issue, upGrad raises ₹ 300 crore

Existing stakeholder Temasek contributed Rs 81 crore and upGrad chairperson Ronnie Screwvala contributes Rs 212 crore with other minority stakeholders completing the balance

Edtech Unicorn upGrad has raised Rs 300 crore, in an internal rights issue. A statement by the company has said that existing shareholder Temasek contributed Rs 81 crore, while upGrad co-founder and chairperson Ronnie Screwvala contributed Rs 212 crore, with other minority stakeholders completing the balance.&nbsp;
upGrad currently operates out of 31 cities across India, the United States, the United Kingdom, the Middle East, Singapore, and Vietnam.&nbsp;
Earlier in August 2022, the unicorn raised $210 million in a funding round at a valuation of $2.25 billion. This funding was led by ETS Global, one of the world's largest providers of global entrance tests like GRE and TOEFL, and Bodhi Tree, an investment vehicle set up by media veterans Uday Shankar and James Murdoch, among others.

Even though the number of startups in the ed tech space like Unacademy, Frontrow and Vedantu resorted to lay-offs, UpGrad has raised $225 million in funding, doubling its valuation. 
According to reports, the Mumbai-based startup has raised funding from the billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provider Educational Testing Service. 
The five-year-old UpGrad, whose initial target was the K-12 segment, might shift to college students and working professionals as ETS develops and administers standardized tests including the TOEFL (Test of English as a Foreign Language) and Graduate Record Examination (GRE).
Early this month, upGrad's chairperson and co-founder Ronnie Screwvala also told that the company will increase its workforce to around 6,500-7,000 by August this year.
 
 

This Ed tech raises $225 million, doubles its valuation 

Mumbai-based startup has raised funding from the billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provider Educational Testing Service

upGrad also&nbsp;plans to increase its workforce to around 6,500-7,000 by August this year

Even though the number of startups in the ed&nbsp;tech&nbsp;space like Unacademy, Frontrow and Vedantu resorted to lay-offs,&nbsp;UpGrad&nbsp;has raised $225 million in funding, doubling its valuation.&nbsp;
According to reports, the Mumbai-based startup&nbsp;has raised funding from the&nbsp;billionaire James Murdoch&rsquo;s&nbsp;Lupa Systems LLC&nbsp;and US testing and assessment provider&nbsp;Educational Testing Service.&nbsp;
The five-year-old UpGrad, whose initial target was the K-12 segment, might shift to&nbsp;college students and working professionals as&nbsp;ETS develops and administers standardized tests including the TOEFL (Test of English as a Foreign Language) and Graduate Record Examination (GRE).
Early this month,&nbsp;upGrad's chairperson and co-founder Ronnie Screwvala&nbsp;also told that the company will increase its workforce to around 6,500-7,000 by August this year.
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On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings

On Biz Buzz | Ronnie Screwvala Exclusive on upGrad and edtech listing plans

<div>On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings</div>

On Biz Buzz, edTech&nbsp;pioneer Ronnie Screwvala on Edtech and the acquisition plans, and the scope of edtech listings

Want a better job? You might be missing the one big thing employers are looking for, Ronnie Screwvala talks about the big gap in soft skills and why it is what is most needed.&nbsp;

On Biz Buzz | Ronnie Screwvala tells you the one skill you must have!

Want a better job? You might be missing the one big thing employers are looking for, Ronnie Screwvala talks about the big gap in soft skills and why it is what is most needed.&nbsp;

Do you want to follow the herd or be the leader? Ronnie Screwvala talks about how non-linear thinking will be the decider on if you remain relevant to the job market&nbsp;

On Biz Buzz | Ronnie Screwvala explains how non-linear thinking is the only way ahead

Do you want to follow the herd or be the leader? Ronnie Screwvala talks about how non-linear thinking will be the decider on if you remain relevant to the job market &nbsp;

<div>Do you want to follow the herd or be the leader? Ronnie Screwvala talks about how non-linear thinking will be the decider on if you remain relevant to the job market</div>
<div>&nbsp;</div>

Do you want to follow the herd or be the leader? Ronnie Screwvala talks about how non-linear thinking will be the decider on if you remain relevant to the job market &nbsp;

Edtech&nbsp;pioneerRonnie&nbsp;Screwvala on why upGrad is not rushing into the K-12 market and how that market will plateau out after the FOMO eases out. Ronnie also spills the beans on the next bet for upGrad

On Biz Buzz | Will Upgrad Upgrade to K-12? Ronnie Screwvala spills the beans

Edtech&nbsp;pioneerRonnie&nbsp;Screwvala on why upGrad is not rushing into the K-12 market and how that market will plateau out after the FOMO eases out. Ronnie also spills the beans on the next bet for upGrad

Ronnie Screwvala, co-founder upGrad&nbsp;and author of "Skill It, Kill It Up for Game" talks about what it takes to get job in the new business world and why your 'hard education' is not enough.&nbsp;Screwvala&nbsp;also spills the beans on the plans for upGrad&nbsp;a and why he is not taking on Byju's head on in the K-12 game.&nbsp;

On Biz Buzz| Ronnie Screwvala on upGrad, Upskilling and what it really takes to get a job

Biz Buzz| Want to get a great job? Ronnie Screwvala&nbsp;founder of upGrad&nbsp;tells you what its takes and how to get it.&nbsp;

On Biz Buzz| Ronnie Screwvala Exclusive

Ronnie Screwvala, co-founder upGrad&nbsp;and author of "Skill It, Kill It Up for Game" talks about what it takes to get job in the new business world and why your 'hard education' is not enough.&nbsp;Screwvala&nbsp;also spills the beans on the plans for upGrad&nbsp;a and why he is not taking on Byju's head on in the K-12 game.&nbsp;

Indian edtech industry's market is pegged to be worth $30 billion in the next 10 years.&nbsp;

upgrad

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