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.
MAM
Time brings TIME100 Next franchise to India with Reliance
List to spotlight 100 emerging leaders, gala set for December 2026 in Mumbai.
MUMBAI: It’s about time India’s next wave got a global spotlight and now, it’s on the list. New York-headquartered Time is expanding its TIME100 Next franchise to India, partnering with Reliance Industries Limited to launch TIME100 Next India, its first international extension of the rising leaders platform. The announcement was made at the Time100 Gala in New York by Jessica Sibley and Nita Mukesh Ambani, signalling a strategic push to tap into India’s growing influence across sectors.
The India edition will recognise 100 emerging leaders from the country and the global Indian diaspora, spanning business, science, sports, arts and social impact. The list will be curated by Time’s editorial team and published online, continuing the franchise’s focus on identifying individuals shaping the future.
The initiative will culminate in a gala event scheduled for December 2026 at the Nita Mukesh Ambani Cultural Centre, anchoring the platform within India’s cultural and business ecosystem.
TIME’s broader Time100 franchise has steadily expanded its global footprint since 2021 through events and impact-led initiatives. Executives noted that India’s growing pool of influential voices and innovators made it a natural next step for the platform’s international ambitions.
For Reliance, the partnership aligns with its broader push to support emerging talent and ideas on a global stage. For Time, it marks a timely bet on India not just as a market, but as a talent engine shaping the next chapter of global leadership.
