Leading online education platform Upgrad has raised its third external funding of $25 million from the IIFL group, helping the re/up-skilling company join the unicorn club with a valuation of $1.2 billion.
The Ronnie Screwvala firm got its maiden external funding in late April when the Singaporean investment giant Temasek Holdings invested $120 million, and in the same week the World Bank Group arm International Finance Corporation chipped in with $40 million, valuing it at $850 million.
Seventeen start-ups have become unicorns till now in 2021, taking the coveted tally to close to 60.
Upgrad, co-founded by ex-media baron Screwvala, Phalgun Kompalli, Mayank Kumar and Ravijot Chugh, by investing just over Rs 170 crore in 2015, said in a statement on Monday that with the $25 million investment from IIFL Group, it has so far raised $185 million in equity capital from external investors.
