upGrad merges its three subsidiaries in India
- ByStartupStory | November 26, 2021
Ronnie Screwvala-led edtech, upGrad, is merging its three subsidiaries–upGrad Campus (formerly Impartus), upGrad Jeet (formerly The GATE Academy), and upGrad KnowledgeHut (formerly KnowledgeHut)–into one single parent unit, as the company looks to execute an integrated strategy.
The three subsidiaries are in fact acquisitions that were rebranded by upGrad.
upGrad Campus was originally Impartus, a video-enabled learning solutions provider that was acquired by the edtech unicorn in May this year. Rs 150 crore was infused into this business.
The Gate Academy, which was acquired in November 2020, was rebranded as upGrad Jeet. The company has invested Rs 100 crore in this test preparation business.
upGrad acquired KnowledgeHut, which provides short-duration upskilling and reskilling courses to professionals, in August and rename.“The merger of all the India entities is to strengthen the corporate structure and consolidate our position as a truly integrated edtech player and provide a strong foundation for our global strategy. Brand upGrad is built based on the impact we create for our learners’ lives and the outcomes we deliver to them. We want the upGrad brand to permeate the full range of our offerings and so the one merged entity makes sense,” said Ronnie Screwvala, chairperson and co-founder, upGrad, in a statement.
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