Hero Group partners with MIT, University of Cambridge to launch new Indian edtech firm

Details:

• The group, which runs Indian two-wheeler giant Hero MotoCorp, has invested over US$10 million into the new edtech startup, which is expected to offer a mix of programs for professionals and higher education aspirants.
• Hero Vired has also partnered with the Massachusetts Institute of Technology, the University of Cambridge, and New York-based Codecademy to provide classes with interactive support and peer-to-peer communications, as well as online instructor-led sessions.

Context:

• In 2014, Hero Group set up the BML Munjal University in India, offering a variety of programs at the undergraduate and postgraduate level.
• The development also comes amid significant consolidation in the Indian edtech space, with household names like Byju’s acquiring offline tutoring centre Aakash and coding education platform WhiteHat Jr. The company is also reportedly close to acquiring rival Toppr in a transaction valued at roughly US$150 million.