Edtech Unicorn UpGrad Acquires Online Learning Platform Harappa Education
UpGrad, an edtech unicorn, has acquired New Delhi-based online learning platform Harappa Education for $38 million (about Rs 296 crore) in a cash-and-share swap deal.
The edtech Unicorn has closed the acquisition deal with Harappa shareholders, Bodhi Tree Systems, and Co-founders Pramath Raj Sinha and Shreyasi Singh.
UpGrad Acquires Harappa Education
Founded by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalliin in 2015, UpGrad offers upskilling courses and programs in data science, technology, management and law to students, working professionals and enterprises.
Every program UpGrad offers is designed and delivered in collaboration with top universities like the IIT Madras, MICA, NMIMS Global Access, Jindal Global Law School, Duke CE, Deakin University, Liverpool John Moores University and others.
Speaking on the development, Mayank Kumar, Co-founder of upGrad, said,
“With our limited presence in the enterprise business-to-business (B2B) ecosystem, Harappa coming in allows us to establish a leadership position in the entire sort of B2B enterprise learning space…Harappa has built a unique pedagogy product and can make strong impact in the learning outcome for various learners.“
Founded by Pramath Raj Sinha and Shreyasi Singh, Harappa is a learner-centered platform that offers self-paced courses and upskilling courses to learners. The startup claims to have an active clientele of 100 mid and large-sized organisations.
Commenting on the development, Pramath Raj Sinha, Co-founder of Harappa, said,
“Consolidations get like-minded entrepreneurs together to build powerful, inspired formations. Harappa and upGrad will anchor our purpose and conviction to create a wholesome learning ecosystem for lifelong learners in India and abroad.”
With this acquisition of Harappa, upGrad has made four acquisitions this year, taking the total tally to nine. The edtech unicorn aims to deepen its positioning in the Indian business-to-business (B2B) and enterprise learning space. Other acquisitions by upGrad are- Wolves India, INSOFE, Global Study Partners, KnowledgeHut, Work Better, Talentedge, Campus and Rekrut.