MAM
upGrad turns unicorn with $1.2 billion valuation
Mumbai: Homegrown online higher education provider upGrad has become the newest unicorn from the country after it closed a series of raises from Temasek, IFC (International Finance Corp, a sister organisation of the World Bank and member of the World Bank Group), and IIFL. The ed-tech startup has raised a total of $185 million at a value of $1.2 billion.
“We are very focussed on our path to being in the top three to five companies globally in ed-tech and serving the one billion workforces across the age group of 18 to 60 years,” said upGrad chairperson and co-founder Ronnie Screwvala. “We are pleased with the investor interest ever since we opened up for a fundraise, and had our maiden raise from Temasek, followed by IFC and IIFL in the last 60 days.”
“We will announce further updates on M&As, and unlocking value as they unfold. Yes, the last value was at $1.2 billion, but as I keep saying, we are not a fan of the tag name unicorn – for us, it is only a means to a much larger goal,” Screwvala added.
upGrad has always been promoter-funded with the founder group still owning 70 per cent plus in the company. It is reportedly in advanced talks for a $400 million fundraise at a valuation of $ four billion.
Brands
From mega bills to spontaneous dates: Swiggy Dineout Valentine’s report
From mega bills to last-minute plans, India celebrated love with flair
MUMBAI: Valentine’s Day 2026 was a feast for the senses and wallets alike, according to Swiggy Dineout. India’s on-demand dining platform revealed how the nation celebrated romance with big gestures, lively nights out, and plenty of spontaneous bookings.
Metropolitan hubs continued to rule the roost with Bengaluru, Delhi, and Hyderabad seeing the most reservations. Emerging cities aren’t far behind, with Ahmedabad, Jaipur, and Chandigarh joining the party. Growth was particularly striking in Surat (up 180 per cent), Vadodara (155 per cent) and Bhubaneswar (145.5 per cent) compared with the previous Saturday.
Mumbai stole the headlines with a single customer splashing out Rs 130,155 – the highest bill in the country. The city also hosted the largest single group booking, with 30 diners coming together to celebrate in style. Most Valentine’s transactions took place between 10pm and 11pm, proving love, and hunger, strike late.
Mumbai stole the spotlight with a mega-spender whose bill made everyone else blush, while savvy diners were cashing in on discounts, including a Pune customer saving 60% and another in Bengaluru saving 50 per cent. Fine dining was on fire, with bookings up 121 per cent year-on-year, though pubs, bars, and lounges remained the crowd favourites, accounting for 30.6 per cent of all reservations. Last-minute romance was the order of the day, with 66 per cent of diners booking within two hours of heading out. Together, India saved over Rs 6 crore, proving that love can be grand, yet thrifty.
Bengaluru, Mumbai, and Delhi led the premium dining rush, showing a growing appetite for curated, high-end experiences. Meanwhile, spontaneous bookings reinforced modern lifestyles, where convenience and instant gratification rule the day.
Whether it was big spends, huge groups, or a last-minute romantic dash, Valentine’s Day 2026 proved love and dining go hand in hand – and sometimes, they go all out.
