Skip to content
Subscriber Only

Temasek Joins 64-Year-Old Founder on Path to Next India Unicorn

  • Temasek invests $120 million in Screwvala’s UpGrad startup
  • The firm aims to join Byju’s, Unacademy as edtech unicorns
Ronnie Screwvala
Ronnie ScrewvalaPhotographer: Sujit Jaiswal/AFP/Getty Images

Ronnie Screwvala pioneered cable television in India in the 1980s and then built a unicorn that was acquired by Walt Disney Co. At 64, the entrepreneur’s latest venture UpGrad is speeding toward a landmark $1 billion valuation.

The higher education and upskilling startup raised $120 million from Singapore-based investor Temasek Holdings Pte, according to its co-founder. That’s the first time UpGrad -- which had been funded entirely by Screwvala and its founding team since it was established in 2015 -- is getting an external investor.

“We are not quite a unicorn but we’ll get there soon,” the entrepreneur said in an interview via Zoom video call.