UpGrad Commits Rs 150 Cr For Growth, On Acquiring Impartus
- ByStartupStory | May 24, 2021
Mumbai-based edtech startup upGrad on acquiring Impartus, a video-enabled learning solutions provider committed over Rs 150 crore for the buyout and to invest in Impartus’ growth. The institutional investor to partner with Impartus for the deal was Kaizenvest.
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.”
On acquiring Impartus, upGrad, which predominantly focuses on working professionals, will now be able to strengthen its presence among HigherEd institutions & learners, which is a Rs 560 billion market, as stated in a company statement.
“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 said regarding upGrad on acquiring Impartus.
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