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upGrad Cofounder Mayank Kumar Steps Down To Float New Venture

Inc42 · 8m

Mayank Kumar, cofounder and managing director, is seeking investment for his startup that helps place skilled Indian labour overseas, particularly in the healthcare sector. Ronnie Screwvala, cofounder and chairman, will be more involved in running the company after Kumar's departure. upGrad is also securing funding of $50-60 million from its current investors, valuing the company at $2.25 billion.