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By CNBCTV18.com Aug 8, 2022 5:56:26 PM IST (Published)
upGrad on Monday announced a fresh round of fundraising to the tune of $210 million following which the company's valuation has increased to $2.25 billion, according to a report.
upGrad, Asia's higher edtech major, on Monday announced a fresh round of fundraising to the tune of $210 million from marquee investors and Family Offices.
This funding round has witnessed participation from ETS Global (the world’s largest TOEFL & GRE Test Leader), Bodhi Tree (a JV of James Murdoch and Uday Shankar), Singapore's Kaizen Management Advisors Pvt Ltd, Family office of Bharti Airtel, Narotam Sekhsaria Family Office (Ambuja Cements and ACC), and Artisan Investments (Family Office of Lakshmi Mittal — ArcelorMittal) along with existing investors Temasek, IFC and IIFL.
Founder Group also invested $12.5 million in this round to maintain their more-than 50 percent stake in upGrad.