On Monday, well-known online higher education company upGrad made an announcement that it has acquired video-enabled teaching solutions provider Impartus for ₹150 crores towards the buyout as well as to lift its growth.
Impartus, now a 100 percent subsidiary of upGrad, and has now rebranded as ‘upGrad Campus’.
‘UpGrad Campus’ is on the verge of targeting higher education institutions and college students along with its learning tools and world-class content, and also an integrated solution, the company even mentioned in a statement with the aim to close the financial year 2022 with nearly ₹85 crore revenue.
Amit Mahensaria, CEO, upGrad Campus, mentioned “The synergy of Impartus and upGrad will pave the way for augmenting college education by helping learner upskill with new-age courses, thus elevating their candidature for better career prospects.”
Founded by IIT-graduates Mahensaria (who will continue as the CEO of upGrad Campus), Alok Choudhary, and Manish Kumar, Bengaluru-based Impartus produces cutting-edge, innovative technology solutions for education, with their core characteristics being virtual classrooms that permit for deep learner-teacher engagement.
The platform has efficaciously onboarded over 280 HigherEd institutes, 50,000 teachers, and six lakh learners within a short span of seven years.
Through gaining, upGrad said it will now be capable to strengthen its presence among HigherEd institutions and learners, which is a ₹560 billion market.
Ronnie Screwvala, Chairman and Co-Founder, upGrad explained, “Aligned with our vision, upGrad Campus will bolster our presence in the university education space and help the youth of Bharat learn the necessary skill set to become more employable and join the workforce as leaders of tomorrow.”
‘upGrad Campus’ will have two business verticals. While under B2C vertical, it will provide several job-oriented courses, under the B2B vertical, these offerings will be to HigherEd Institutions (HEI). The move will allow upGrad to add 50,000 paid learners in the very first year of the acquisition, believed the company.