Edtech platform upGrad is in talks with private equity and venture capital funds to raise $400 million at a valuation of $4 billion, marking its entry into the unicorn club. The company had raised $160 million in two separate funding rounds led by Temasek and IFC earlier this year. It was valued at about $850 million during the last funding round. The valuation of $4 billion will mark almost a five-fold jump in its valuation, Business Standard reported. upGrad is also looking to acquire a global short-form course player and another player in executive education space in the next two to three months. Also read: UP police books Twitter MD, officials in FIR over incorrect map of India
"These are significant players who are going to add a lot of value to our group," the company's co-founder and executive chairman Ronnie Screwvala told the publication on the acquisitions. On valuation, Screwvala said, "We've got a lot going on our plate. So, obviously the next jump will happen substantially higher than a unicorn." Earlier this year, upGrad had acquired Impartus, a leading video-enabled learning solutions provider, for Rs 150 crore.
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