While the details of the upcoming funding round are still under discussion, it is unlikely that Upgrad’s valuation will see an upturn from its previous assessment of $2.5 billion.
Ronnie Screwvala’s upGrad Education is in the final phases of acquiring the US-based online education company Udacity. Simultaneously, the company is in discussions with investors to secure funding of up to $100 million. Approximately 80% of the funds raised will be allocated to support the acquisition deal
According to Inc42, Ronnie Screwvala, who holds a 22.4% stake in upGrad, is contemplating the use of his personal funds in the forthcoming investment round. The article further indicates that upGrad has sought external investors to contribute around $50-60 million, with the remaining portion anticipated to be supplied by existing investors, including Temasek.
Source: People Matters
