Upgrad raises ₹300cr through rights issue

Bengaluru: Edtech platform Upgrad has raised Rs 300 crore via a rights issue led by its co-founder and chairperson Ronnie Screwvala. Screwvala has contributed Rs 212 crore and existing investor Temasek has infused Rs 81 crore. “The company is focused on its organic and in-organic growth across multiple verticals of formal education via degree, diploma and doctorate courses in partnership with the best universities in India and globally. UpGrad is also focused on a large segment of skilling, short-certification courses, bootcamps and job-linked programmes coupled with the fast-growing sector of `study abroad’. Completing 22,000 placements into jobs just this year is a testament to our model and the high level of interactive deep learning we offer our learners and working professionals around the world,” the company said in a statement.