UpGrad on Monday said it has raised $120 million in funding from Singapore-based Temasek. The investment, which the company claims to be its first external funding, reportedly values the ed-tech firm at an estimated $575-$675 million. upGrad did not disclose the valuation.

— The Financial Express

One of South Asia’s largest online higher education companies, upGrad is expected to utilize the funds to set its footprint globally and expand its reach within India.

Rajaram Legal advised upGrad Education Private Limited led by a team of managing partner Archana Rajaram, senior associate Mihir Roy and associates Kanchana S P and Jagdish Kaisare.

Cyril Amarchand Mangaldas represented Temasek led by partners Reeba Chacko and S Harish, senior associate Saloni Shroff and associate Vasujith Ram.

2021-04-27

Deal value: INR 881 crores (USD 120 million)

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