Edtech startup, upGrad has taken over video-enabled learning solutions provider Impartus. upGrad has also committed over Rs 150 crore towards the buyout as well as to boost its growth.
which is now a 100% subsidiary of upGrad is rebranded as 'upGrad Campus'.
'upGrad Campus' will focus on higher education institutions and college students, with its learning tools and world-class content, in an integrated solution. It is also aiming to close the financial year 2022 with nearly Rs 85 crore revenue.
"The synergy of Impartus and upGrad will pave the way for augmenting college education by helping learners upskill with new-age courses, thus elevating their candidature for better career prospects," said Amit Mahensaria, CEO, upGrad Campus.
Founded by IIT-graduates Mahensaria (who will continue as the CEO of upGrad Campus), Alok Choudhary and Manish Kumar, Bengaluru-based Impartus develops cutting-edge, innovative technology solutions for education, with their core feature being virtual classrooms that allow for deep learner-teacher engagement.
With this acquisition, upGrad said it will now be able to strengthen its presence among higher education institutions and learners, which is a Rs 560 billion market.
"Aligned with our vision, upGrad Campus will bolster our presence in the university education space and help the youth of Bharat learn the necessary skill set to become more employable and join the workforce as leaders of tomorrow," said Ronnie Screwvala, chairman and co-Founder, upGrad.
'upGrad Campus' will operate two business verticals, one is B2C vertical which will offer several job-oriented courses and the other is B2B vertical - offerings will be to higher education institutes.
The move will enable upGrad to add 50,000 paid learners in the very first year of the acquisition, said the company.
