upGrad acquires video-enabled learning platform Impartus in Rs 150cr deal

Higher education startup upGrad has acquired video-enabled learning solutions platform Impartus and has committed over Rs 150 crore for the buyout and for investing in its growth.

Post the acquisition, Impartus has been integrated into the upGrad ecosystem and rebranded as ‘upGrad Campus’. upGrad Campus will target higher education institutions and college students with its learning tools and content, in an integrated solution. It is looking to close FY22 with Rs 85 crore in revenue, with the founders continuing to run the business independently.

"Our M&A strategy is focused on creating a career ecosystem and in helping build the blocks for India to emerge as the teaching capital of the world. 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, upGrad.

upGrad has set aside a corpus of Rs 350-500 crore for the acquisition and growth of its inorganic bets this year. Short-form courses, study abroad and career counselling are some of the areas it is focusing on for expansion.

The startup had last year (in December) acquired recruitment and staffing solutions company Rekrut India. The acquisition is said to have brought upGrad a network of over 100 recruiting experts who work closely with many corporates, micro, small & medium enterprises, as well as large enterprises. Besides, upGrad also acquired a Bengaluru-based coaching institute, The Gate Academy, in November 2020, to enter the test preparation market.

Founded by IIT graduates, Amit Mahensaria, Alok Choudhary and Manish Kumar, upGrad’s latest acquisition Impartus develops cutting-edge, innovative technology solutions for education, with their core feature being virtual classrooms that allow for deep learner-teacher engagement. It allowed schools and colleges to migrate online at zero cost when the Coronavirus (Covid-19) pandemic broke out last year. The platform has on-boarded over 280 higher education institutes, 50,000 teachers, and 600,000 learners so far.

“The synergy of Impartus and upGrad will pave the way for augmenting college education by helping learners upskill with new-age courses, thus elevating their candidature for better career prospects,” said Mahensaria, CEO, upGrad Campus.

With this acquisition, upGrad, which predominantly focuses on working professionals, will be able to strengthen its presence in the $560 billion higher education market. This move will enable upGrad to add 50,000 paid learners in the first year of acquisition.