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Reading: Temasek Doubles Down on upGrad Through $60M Investment
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Edutech

Temasek Doubles Down on upGrad Through $60M Investment

Rary Maharani
Last updated: October 24, 2024 11:21 pm
Rary Maharani
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1 Min Read
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  • Temasek invests $60M in upGrad
  • Edtech funding dropped significantly since 2021
  • Investment maintains upGrad’s unicorn status

Contents
Money Keeps FlowingNumbers Tell a StoryStrategic Moves

Money Keeps Flowing

Singapore’s sovereign wealth fund Temasek has injected $60 million into higher education platform upGrad, maintaining the startup’s $2.25 billion valuation. The investment comes through an $80 million funding round, which includes participation from International Finance Corporation.

Numbers Tell a Story

The edtech sector has experienced a dramatic funding decline, plummeting from $4.1 billion in 2021 to $650 million in 2023. Despite this industry-wide downturn, upGrad continues to attract significant capital from major investors.

Strategic Moves

The funding round also features a secondary transaction involving Indian conglomerate Bharti Enterprises, strengthening upGrad’s position in the competitive edtech landscape.

This strategic investment signals continued confidence in upGrad’s business model.

TAGGED:div5

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