The Ed-tech start-up, which predominantly focuses on working professionals, said, with this acquisition it will be able to strengthen its presence among higher education institutions and learners, which is a Rs 560 billion market
Mumbai-based Ed-tech start-up – upGrad, on Monday made an announcement about acquiring Impartus, a video-enabled solutions provider by committing more than Rs 150 crore for the buyout and to invest in its growth.
For this deal, Kaizenvest was the institutional investor partner for Impartus.
Rebranded as “upGrad Campus” – Impartus is now a 100 per cent subsidiary of the Ed-tech start-up.
Its new initiatives will include targeting higher education institutions and college students, with its learning tools and content, in an integrated solution. With the founders continuing to run and grow the business independently, it is looking to close FY22 with revenue of around Rs 85 crore.
“The synergy of Impartus and upGrad will pave the way for augmenting college education by helping learners up-skill with new-age courses, thus elevating their candidature for better career prospects”, said Amit Mahensaria, CEO of the Ed-tech start-up’s subsidiary upGrad Campus.
According to the Ed-tech start-up, upGrad Campus will now have two verticals – B2C and B2B
In areas of Full Stack Development, Artificial Intelligence, Digital Marketing, Business Analytics, and Career Preparation (Soft Skills), the B2C vertical will offer job-oriented courses. The course duration is of two months with a maximum of four months, and each learner will be required to devote 10-15 hours per week during the period.
Meanwhile, the B2B vertical’s offerings will be tailored to higher educational institutions (HEI). As HEI’s B2B SaaS partner, the Ed-tech start-up’s subsidiary will enable them to launch for-credit online courses including new-age courses, as well as, the college’s core courses in engineering, management, and others.
Providing technology platform and services (course mapping, placements, industry projects, placement services, etc.), will also be included in B2B services, all with an aim to make college students employable, it added.
Founded by IIT-graduates, Amit Mahensaria, Alok Choudhary and Manish Kumar, Bengaluru-based Impartus has on-boarded over 280 higher education institutes, 50,000 teachers, and 6 lakh learners in seven years, says the Ed-tech start-up’s subsidiary.
The Ed-tech start-up, which predominantly focuses on working professionals, said, with this acquisition it will be able to strengthen its presence among higher education institutions and learners, which is a Rs 560 billion market.
“Aligned with our vision, upGrad Campus will bolster our presence in the university education space and help the youth of Bharat learn the necessary skillset to become more employable and join the workforce as leaders of tomorrow”, said Ronnie Screwvala, Chairman & Co-Founder of the Ed-tech start-up.
In the first year of acquisition, this deal will enable Ed-tech start-up to add up to 50,000 paid learners, as per an official statement.
“This acquisition opens up a larger target group, as upGrad Campus will enable both Higher Ed institutions and its learners, to get access to world-class learning materials. We welcome the team to upGrad family”, added Gaurav Kumar, President – Corporate Development and M&A of the Ed-tech start-up.
By raising an investment of $120 million from Singapore-based Teamesk, earlier this year, upGrad took a leap towards becoming the next unicorn Ed-tech start-up.