Ronnie Screwvala’s upGrad boosts valuation to $2.25B in $225M funding round
Ronnie Screwvala’s upGrad secured $225 Mn in a new funding round. With this, the edtech startup's total valuation has soared to $2.25 billion. Ronnie Screwvala's upGrad has secured $225 million in a new round of investment from James Murdoch's Lupa Systems LLC and Educational Testing Service (ETS), a US-based testing and assessment organization that creates standardised examinations such as the TOEFL and Graduate Record Examination (GRE). The round was attended by existing investors such as Temasek Holdings and the family offices of billionaires Lakshmi Mittal (of ArcelorMittal SA) and Sunil Bharti Mittal (of Bharti Airtel). The financing cycle has not yet come to a finish. In the same round, upGrad hopes to raise another $100 million at a higher value. Ronnie Screwvala , Phalgun Kompalli, Mayank Kumar, and Ravijot Chugh founded upGrad in 2015. The aim was to provide higher education courses in conjunction with other universities. After raising $185 milli...