🇮🇳 Roundup: UpGrad eyes fresh funds at up to $3b valuation

Startups in India, including Testsigma, Claimbuddy, and Upswing, raised at least US$11.6 million in funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

UpGrad may raise fresh capital at up to $3b valuation

Temasek-backed edtech unicorn upGrad is in talks with new and current backers to raise around US$200 million to US$250 million, sources told Entrackr.

The raise is expected to boost the company’s valuation between US$25.5 billion and US$3 billion, more than double its current value.

The startup had previously raised US$185 million last August at a valuation of US$1.2 billion.

Supreme Court asks govt for clear stance on crypto

While hearing a matter on the GainBitcoin scam, the high court has directly asked additional solicitor general (ASG) Aishwarya Bhati directly if bitcoins are “legal or not?”

There are no current regulations on cryptocurrencies in the country, but India has been working on a framework since 2019.

India’s central bank had previously banned banks from aiding in cryptocurrency transactions, which was overruled by the Supreme Court.

Upscalio acquires 4 online-first brands

The ecommerce roll-up firm bought stake in Gizga, Tizum, Aircase, and HomePuff.

The acquired firms operate in the computer, PC and phone accessories, laptop bags, and kitchenware spaces, respectively.