upGrad, an online education company, has raised $210 million in a VC funding round from investors and Family Offices who join the company cap-table.
This round has witnessed participation from ETS (world’s largest TOEFL & GRE Test Leader), Bodhi Tree (a JV of James Murdoch and Uday Shankar), Singapore’s Kaizen Management Advisors, Family office of Bharti Airtel, Narotam Sekhsaria Family Office (Ambuja Cements and ACC), and Artian Investments along with existing investors Temasek, IFC and IIFL.
upGrad co-founders are Ronnie Screwvala and Mayank Kumar. Founder Group invested $12.5 million in this round to maintain their over 50 percent stake in upGrad.
India-based upGrad said its team strength will grow to 7600 from the present 4800 in the next 3 months and will also include about 170 full-time faculty, 1600 teachers, and over 5000 on-contract coaches and mentors.