Ed-tech startup upGrad acquires Australia based Global Study Partners
- ByTejika Bajaj | November 30, 2021
The ed-tech startup upGrad has invested $16 million in the Australia based Global Study Partners for 100% of its stakes and has committed an additional $10 million for its future growth.
Talking about the recent acquisition, the chairperson and co-founder of upGrad, Ronnie Screwvala said, “As an Integrated EdTech leader-we span the entire gamut of a learner’s need from the age of 18-50 and in that, Study Abroad is a key growth initiative for us; not just out of India which is one of the two largest markets but also for our learners internationally. GSP coming into upGrad’s fold will be a needle mover for us to attain a headstart in being a global leader in this segment too.”
Founded by Elaine Starkey in 2015, Global Study Partners is a two sided marketplace for international student recruitment with an institution network of more than 600 establishments across Australia, United Kingdom, Canada and US amongst others. The global startup also has 1,300 recruitment partners inclusive of education and migration agents, school, test preparation centres and alumni associations.
Expressing views on the terms of the recent acquisition, the CEO and co-founder of Global Study Partners, Elaine Starkley stated, “I couldn’t think of a more complementary business that is underpinned by shared principles and ethics to empower learners throughout the world. GSP partner institutions and recruitment partners—worldwide, will enjoy the benefits that the additional reach and capacity GSP can now deliver and they can expect significant growth in quality student enrolments.”
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