upGrad, Asia's higher edtech major, on Monday announced a fresh round of fundraising to the tune of $210 million from marquee investors and Family Offices.

This funding round has witnessed participation from ETS Global (the world’s largest TOEFL & GRE Test Leader), Bodhi Tree (a JV of James Murdoch and Uday Shankar), Singapore's Kaizen Management Advisors Pvt Ltd, Family office of Bharti Airtel, Narotam Sekhsaria Family Office (Ambuja Cements and ACC), and Artisan Investments (Family Office of Lakshmi Mittal — ArcelorMittal) along with existing investors Temasek, IFC and IIFL.

Founder Group also invested $12.5 million in this round to maintain their more-than 50 percent stake in upGrad.

According to a Bloomberg report, upGrad's valuation has increased to $2.25 billion following the fresh round of funding.

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“We welcome our new investors and industry veterans to the upGrad cap table. There is a massive re-skilling revolution taking place around the world and over the last five years, our 4,800+ colleagues have worked hard and smart to be at the epicentre of taking advantage of this, not just in India but around the world," said upGrad co-founders Ronnie Screwvala and Mayank Kumar in a joint statement.

"Higher edtech will be on the rise for the next 4 to 5 decades. upGrad in the last 12 months has re-shaped itself to be the most integrated company in this space with career opportunities for college learners and working professionals from the age of 18 to 58, and will be a lifelong learning partner for millions in the coming years."

"We have always been very capital efficient while growing 100 percent year-on-year and hope to retain that discipline," they added.

The upGrad team strength will grow to 7,600 from the current 4,800 in the next three months — this includes include about 170 full-time faculty, 1,600 teachers, and over 5,000 on-contract coaches and mentors, thereby building one of the largest full-time edtech faculties in the world, the firm said in a statement.

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Bucking the slowdown trend within the sector, upGrad has remained bullish with its programme completion rate of over 80 percent and has emerged a global leader in the higher education segment. 40 percent of the company's total revenue is realised from Repeats and Referrals year-on-year.

upGrad is on track to record annual gross revenue of $400-500 million during the ongoing fiscal, of which about 45 percent will be realised from its own-branded online courses and programmes.