<p>Online higher education platform upGrad on Monday said it has raised $210 million (about Rs 1,670 crore) in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors and others -- at a time when the Indian edtech companies are busy sacking employees amid the ongoing funding winter.</p>.<p class="bodytext">Founder Group also invested $12.5 million in the funding round to maintain their over 50 per cent ownership in upGrad, the company announced.</p>.<p class="bodytext">The edtech company said it is on track to record annual gross revenue of $400-500 million during FY23, out of which about 45 per cent of total revenue will be realised from its own-branded online courses and programmes.</p>.<p class="bodytext"><strong>Read | <a href="https://www.deccanherald.com/business/edtech-firm-vedantu-lead-school-lay-off-100-employees-1133339.html" target="_blank">Edtech firm Vedantu, LEAD School lay off 100 employees</a></strong></p>.<p class="bodytext">"Higher edtech will be on the rise for the next 4 to 5 decades. upGrad, in the last 12 months, has re-shaped itself to be the most integrated company in this space with career opportunities for college learners and working professionals," said upGrad Co-founders, Ronnie Screwvala and Mayank Kumar.</p>.<p class="bodytext">Other investors in the new funding round included Family office of Bharti Airtel, Narotam Sekhsaria Family Office (Ambuja Cements and ACC), and Artisan Investments (Family Office of Lakshmi Mittal - ArcelorMittal), along with existing investors Temasek, IFC and IIFL.</p>.<p class="bodytext">"We have always been very capital efficient while growing 100 per cent year-on-year and hope to retain that discipline," said upGrad Co-founders.</p>.<p class="bodytext">upGrad said its team strength will grow to 7,600 from the present 4,800 in the next three months, including about 170 full-time faculty, 1,600 teachers, and over 5,000 on-contract coaches and mentors.</p>.<p class="bodytext">Started in 2015, the edtech platform has a learner base of over three million across more than 100 countries, over 300 university partners and a client base of 1,000 companies.</p>.<p class="bodytext">Last month, upGrad acquired online learning institution Harappa Education for Rs 300 crore (about $38 million).</p>
<p>Online higher education platform upGrad on Monday said it has raised $210 million (about Rs 1,670 crore) in a round that saw participation from ETS Global, Bodhi Tree, Kaizen Management Advisors and others -- at a time when the Indian edtech companies are busy sacking employees amid the ongoing funding winter.</p>.<p class="bodytext">Founder Group also invested $12.5 million in the funding round to maintain their over 50 per cent ownership in upGrad, the company announced.</p>.<p class="bodytext">The edtech company said it is on track to record annual gross revenue of $400-500 million during FY23, out of which about 45 per cent of total revenue will be realised from its own-branded online courses and programmes.</p>.<p class="bodytext"><strong>Read | <a href="https://www.deccanherald.com/business/edtech-firm-vedantu-lead-school-lay-off-100-employees-1133339.html" target="_blank">Edtech firm Vedantu, LEAD School lay off 100 employees</a></strong></p>.<p class="bodytext">"Higher edtech will be on the rise for the next 4 to 5 decades. upGrad, in the last 12 months, has re-shaped itself to be the most integrated company in this space with career opportunities for college learners and working professionals," said upGrad Co-founders, Ronnie Screwvala and Mayank Kumar.</p>.<p class="bodytext">Other investors in the new funding round included Family office of Bharti Airtel, Narotam Sekhsaria Family Office (Ambuja Cements and ACC), and Artisan Investments (Family Office of Lakshmi Mittal - ArcelorMittal), along with existing investors Temasek, IFC and IIFL.</p>.<p class="bodytext">"We have always been very capital efficient while growing 100 per cent year-on-year and hope to retain that discipline," said upGrad Co-founders.</p>.<p class="bodytext">upGrad said its team strength will grow to 7,600 from the present 4,800 in the next three months, including about 170 full-time faculty, 1,600 teachers, and over 5,000 on-contract coaches and mentors.</p>.<p class="bodytext">Started in 2015, the edtech platform has a learner base of over three million across more than 100 countries, over 300 university partners and a client base of 1,000 companies.</p>.<p class="bodytext">Last month, upGrad acquired online learning institution Harappa Education for Rs 300 crore (about $38 million).</p>