upGrad raises $40 mn from World Bank arm IFC at $850 mn valuation

Edtech startup upGrad has raised $40 million from International Finance Corporation (IFC), a sister organisation of the World Bank, at a valuation of $850 million. upGrad recently raised $120 million from Singapore's Temasek which had marked the six-year-old startup's first external funding. The latest round of funding has brought down the promoters' share in the startup to 75%, PTI reported.