Friday
June 17
2022

India’s Edtech Unicorn UpGrad Raises $225 Million in Funding, Doubles Valuation

UpGrad Education Pvt, founded by Ronnie Screwvala, increased its valuation to $2.25 billion in the round that included billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provider Educational Testing Service.

An education technology unicorn built by a cable TV-era entrepreneur almost doubled its valuation after raising $225 million in fresh funding, balking a frosty global venture capital environment.

India’s UpGrad Education Pvt, founded by Ronnie Screwvala, increased its valuation to $2.25 billion in the round that included billionaire James Murdoch’s Lupa Systems LLC and US testing and assessment provider Educational Testing Service, according to a person familiar with the deal.

Photo courtesy of Alireza Attari.

Source: Economic Times (link opens in a new window)

Categories
Education, Technology
Tags
EdTech, education, entrepreneurs, funding, technology, venture capital