Bangalore-based Edu-Tech giant upGrad has acquired Impartus Innovation Pvt. Ltd., a video-enabled learning solution providing company for Rs. 150 crores. With this Impartus, will work as a 100% subsidiary of upGrad has been rebranded as ‘upGrad Campus’.
As per the deal, the existing investor Kaizen, which has invested $4.1 Million in the start-up in 2015, will exit, and Impartus co-founder Amit Mahensaria will take over as a Chief Executive of upGrad Campus, and the subsidiary will continue to operate independently.
“Aligned with our vision, upGrad Campus will bolster our presence in the university education space and help the youth of Bharat learn the necessary skills needed to become more employable and join the workforce as leaders of tomorrow,” said Ronnie
Screwvala, chairman of upGrad. Screwvala added that the edtech company continues to scout for acquisitions to bring in short-format courses averaging around three months to bolster its presence in the US, Australia, and Indonesia.
Bengaluru-based Impartus currently provides a video-learning platform, helping colleges and other educational institutions shift to virtual classes. It also allows students to record class lectures and review supplementary course material at any time.
Impartus has been founded by IIT-graduates Amit Mahensaria, Manish Kumar, and Alok Choudhary and has boarded over 280 higher education institutes, 50,000 teachers, and 6 lakh learners since its inception in 2015. After this acquisition, Teamesk-backed upGrad aims to add 50,000 paid learners in the very first year.
“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 Mahensaria, chief executive of upGradCampus.
In April2021, upGrad became the next unicorn Edu-Tech start-up by raising an investment of $120 million from Singapore-based Teamesk.
Excluding Impartus, upGrad has made five acquisitions and acquis-hires till date
including, “Gate Academy” to foray into the competitive test preparation segment, staffing solutions platform, “Rekrut India”, online training software platform, “Pyoopil”, online job skilling platform, “Acadview” and product community platform, “CohortPlus”.