Indian edtech firm acquires video-based learning platform in $21m deal

Details:

• Following the acquisition, Impartus will operate as a unit of upGrad and will be rebranded as upGrad Campus.
• The deal will give upGrad access to the 280 higher educational institutions, 50,000 teachers, and 600,000 learners on Impartus’ platform.

Context:

• Last month, upGrad raised US$120 million from Singapore’s Temasek in its first external fundraising, giving it a US$575 million to US$675 million post-money valuation.
• The development comes amid further consolidation in the Indian edtech space, after Byju’s had acquired the coding education platform WhiteHat Jr, AI-based learning assistant Scholr, and offline tutoring center Aakash within the past year.

Currency converted from US dollar to Indian rupees: US$1 = 72.87 rupees.