upGrad has consolidated its three Indian subsidiaries—upGrad Campus, upGrad Jeet and upGrad KnowledgeHut.
The three subsidiaries are in fact acquisitions that were rebranded by upGrad.
upGrad has merged its three Indian subsidiaries—upGrad Campus, upGrad Jeet, and upGrad KnowledgeHut—to form a single parent company in India, at a time when the country’s edtech industry is experiencing tremendous churn.
According to a statement issued Thursday, the merged business will provide the whole range of higher education technology offerings, appealing to both college students and working professionals. The three subsidiaries are really acquisitions that upGrad rebranded.
- Impartus, a provider of video-enabled learning solutions, was acquired by the edtech unicorn in May of this year. This company has received Rs 150 crore in investment.
- The Gate Academy, which was acquired in November 2020, was renamed upGrad Jeet. This exam preparation company has received a Rs 100 crore investment from the company.
- In August, upGrad purchased KnowledgeHut, which offers short-term upskilling and reskilling courses to professionals, and rebranded it upGrad Knowledge Hut.
“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,” said Ronnie Screwvala, co-founder and chairman at upGrad. Our offices in the Asia Pacific, Europe, Middle East and Africa, and the United States will continue to operate as independent subsidiaries.”
upGrad plans to reach 7.5 million registered users by 2024 by working with over 1,298 colleges, 3,110 companies, and increasing its network of teachers, mentors, and experts to 11,078. It now has over 300 academic partnerships and over two million registered users from 50 different countries.
