<ul><li>upGrad, an online higher education platform, raised USD 225 million in a funding round with participation from Lupa Systems and Educational Testing Service. The round follows its USD 185 million funding round in August 2021, bringing its total funding to more than USD 400 million, and valuing UpGrad at USD 2.25 billion.</ul>

• The company intends to use the funds for platform development and global expansion.

• The company also reported that it is expecting to generate revenue of USD 500 million in FY2023. 

<ul><li> Analyst QuickTake: UpGrad cements its position as a robust EdTech solution by securing funds from investors during a period when other EdTech firms, particularly K-12 solution providers, are reportedly witnessing a sharp contraction in demand compared to pandemic-induced demand levels. The firm believes that global demand is skewed toward “upskilling and upgrading to diplomas, degrees, and doctorates,” indicating that UpGrad has no intention of slowing down its expansionary plans via M&As. The company acquired Work Better, an enterprise training platform in January 2022, followed by INSOFE (International School of Engineering), an educational institute with a focus on data science, in April 2022.</ul>