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Officers from India’s GST tax division are looking the places of work of UpGrad, an edtech unicorn that counts Temasek, James Murdoch’s Lupa Techniques and World Financial institution’s Worldwide Finance Company amongst its backers, the startup stated Wednesday.
“It’s a routine survey and we’re absolutely compliant and cooperating with the division,” UpGrad stated.
The startup, based by Ronnie Screwvala (pictured above), has raised $600 million altogether and was valued at $2.25 billion final yr.
Reuters first reported concerning the searches.
Eight-year-old UpGrad makes a speciality of larger schooling and upskilling programs. It gives college students over 100 programs in information science, machine studying, synthetic intelligence, blockchain, finance, programming and regulation in collaboration with universities similar to Michigan State College, the IIT Madras and IIT Delhi, and Swiss College of Enterprise Administration, Geneva.
The searches comply with India’s crime-fighting company looking three premises of edtech big Byju’s and its founder Byju Raveendran earlier this yr.