Screwvala aims for $2bn revenue by 2026
India’s upGrad, backed by US$185 million raised from Singapore diversified investor Temasek and others in its ongoing campaign of wooing heavyweight tech investors, has embarked on a path to being among the top 3-5 global EdTech companies with commitment to serve one billion workforce across the age group of 18 to 60 years across the world.
“We are very focused on our path to being in the top 3-5 companies globally in EdTech and serve the one billion workforce across the age group of 18 to 60 years,” upGrad chairman and co-founder Ronnie Screwvala said in a statement.
Ranked as India’s top EdTech unicorn with a value of US$1.2 billion, upGrad will announce more acquisitions shortly, Screwvala said on 10 Aug 2021.
The higher education start-up doubled in valuation within 60 days of its first financing round of US$120 million from Temasek, and later added another US$65 million from latest backers International Finance Corporation and India’s IIFL.
The 2015 established upGrad international plan is to scale up services in overseas markets, make acquisitions, expand its graduate degree portfolio and launch an app to offer everything from masters classes to soft skills training.
Bullish on business growth, Screwvala aims to double sales every year and has set a target of US$2 billion revenue by 2026.
upGrad Education, now rated as a fastest growing unicorn in India, offers more than 100 courses in subjects like data science, machine learning, artificial intelligence, coding, finance and law, in collaboration with universities like Michigan State University and the Indian Institute of Technology Madras.
The start-up is expanding across South-east Asia and Europe, tailoring courses for each market and offering them in local languages. #investment #startup #technology #EdTech /fiinews.com
