Temasek invests USD 120 million in upGrad as online education continues to thrive in India

Similar to last year’s funding deluge in edtech companies due to the unprecedented rise in the adoption of online learning during COVID-19-induced lockdown, investors continue to write checks for edtech startups as India struggles with the second wave of novel coronavirus in 2021.

Mumbai-based higher education startup upGrad, which offers upskilling courses for students and working professionals, said Monday it has raised USD 120 million from Singapore-headquartered Temasek.

Founded in 2015 by veteran entrepreneur Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, upGrad had been bootstrapped by the co-founders so far. This is the first venture capital raised by the edtech major.

The full article was originally published on Kr Asia