: Edtech unicorn upGrad has confirmed that an internal rights issue for Rs 300 crore has been completed, in which Temasek contributed Rs 81 crore, and Ronnie Screwvala, Co-founder & Chairperson at upGrad, contributed Rs 212 crore, while other minority stakeholders completed the balance.
A spokesperson from upGrad said, “The company is focused on its organic and inorganic growth across multiple verticals of formal education via degree, diploma and doctorate courses, in partnership with the best universities in India and globally. upGrad is also focused on a large segment of Skilling, Short-Certification courses, bootcamps and job-linked programmes, coupled with the fast-growing sector of Study Abroad. We continue to maintain our leadership of being the largest enterprise and workforce development company out of Asia. Completing 22,000 placements into jobs just this year is a testament to our model and the high level of interactive deep learning we offer our learners and working professionals around the world.”
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upGrad operates out of 31 offices located in India, the US, the UK, West Asia, Singapore and Vietnam. Started in 2015, it is an integrated learning, skilling, workforce development and placement company. Its offerings range from online and hybrid degree programmes, to pathway and study abroad programmes, to certification and bootcamps, to Diploma, Master’s and Doctorate programmes for working professionals.
upGrad also provides most of these programmes to enterprise clients through its B2B arm, along with recruitment and staffing services. Till date, upGrad has touched 7 million+ learners across 100+ countries. It has a network of 300+ global university partners, over 20,000 recruitment partners, and its enterprise arm has a clientele of 3,000 corporate partners worldwide.