Mumbai based UpGrad, an online platform for higher education, has acquired Impartus, which is a video-learning platform in USD 20.5 million in cash and stocks deal on 23rd May 2021. The motive behind this acquisition is to distribute its courses to other colleges and educational institutions.
The acquisition will grant an exit to Impartus’s continuing investors Kaizen, which backed the company with USD 4.1 Million in 2015.
After this acquisition, Impratus is now ‘UpGrad Campus,’ as it is a subsidiary of UpGrad. The new UpGrad campus will now focus on high education institutions and students from colleges. The company is looking forward to closing the FY22 with nearly USD 11 Million.
Impartus was founded by Amit Mahensaria, Manish Kumar and Alok Chaudhary, alumni of IIT. Impartus is based in Bengaluru, and it develops innovative tech solutions for education, and its core focus is on the virtual classroom.
About UpGrad –
UpGrad is an Edtech platform that provides educational services online to its customer, launched in 2015 by Ronnie Screwvala, Phalgun Kompali, Mayank Kumar and Ravijot Chugh.
The company offers a range of programs like product management, data analytics,
data-driven management, digital marketing, and digital technology management. It also provided student support services and the company’s insight too.
In April this year, UpGrad raised USD 120 Million from Temasek, based in Singapore. The company has taken a step forward to become the next unicorn in the education tech sector in India.
Words from the Chairman –
Ronnie Screwvala, Chairman & Co-founder, UpGrad, said, “Our M&A strategy is focused on creating a career ecosystem and in helping build the blocks for India to emerge as the teaching capital of the world.”
“We want to cater to every individual’s learning above the kindergarten to grade 12 segments. Impartus is a technology enabler for colleges, and we will be augmenting and integrating the platform with UpGrad’s short courses (1- 4 months) for the same base. Further, cementing a learning relationship with college students early means that they may continue using UpGrad, in the future, to take test prep for government jobs or upskilling courses in their professional career,” – Ronnie Screwvala, chairman and co-founder, UpGrad.
Words from the CEO –
“One of the major challenges faced by graduates in India is their lack of industry-ready and employable skill sets due to the inadequate curriculum of higher education institutions. 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.
