Higher education platform upGrad has acquired online learning institution Harappa Education for $38 million (Rs 300 crore) in a cash and stock deal.
upGrad has closed the transaction with Harappa’s shareholders which include Bodhi Tree Systems and Co-founders Pramath Raj Sinha and Shreyasi Singh. Harappa was the first investment for Bodhi Tree Systems via Lupa Systems in India in which they acquired a majority stake.
Harappa Education offers self-paced courses to address the spiralling problem of poor employability, inadequate leadership, and an ill-equipped workforce. The startup has active customers of 100 mid and large-sized organisations.
The Co-founders of Harappa said in a joint statement, “..Harappa and upGrad will anchor our purpose and conviction to create a truly wholesome learning ecosystem for lifelong learners in India and abroad, with our time-tested pedagogy, flagship programs, and rich partnerships to guarantee unmatched outcomes for our learners and clients.”
upGrad entered the unicorn club last year, with a $1.2 billion valuation. upGrad has acquired 13 startups since its inception. The Mumbai-based company has a learner base of over 3 million across over 100 countries and more than 300 university partners.
