upGrad, an online learning platform, has announced the completion of an internal rights issue, raising Rs 300 crore. The fundraising round involved a contribution of Rs 81 crore from Temasek and Rs 212 crore from Ronnie Screwvala, co-founder, chairperson, upGrad. While the remaining amount was provided by other minority stakeholders, according to an official release.
The company is focused on its organic and inorganic growth across multiple verticals of formal education through 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 programs coupled with the fast-growing sector of study abroad, the release stated.
“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,” spokesperson, upGrad said.
