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Deepti Sri · · 1 min readReport: Indian edtech platform upGrad bags $9.3m in new round of funding
“While higher education-focused edtech platform upGrad has been in an advanced stage to raise over US$100 million from Temasek and International Finance Corporation or IFC, the company has received fresh funds from Unilazer Ventures,” Entrackr reported.
Details:
- According to regulatory filings, upGrad has allotted 70 million shares to raise 700 million rupees (US$9.3 million) from Unilazer Ventures.
- This funding round is Unilazer Ventures’ first financing for 2021.
Context:
- UpGrad offers executive education in courses such as data science, machine learning, and marketing, among others. The company says that about 5% of its platform’s users are paying customers.
- Unilazer Ventures is spearheaded by Ronnie Screwvala, upGrad’s co-founder and chairman. The VC firm has also invested in Zivame, Lenskart, and Shopclues, among other startups.
Editing by Collin Furtado and Eileen C. Ang
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