Education

Ronnie Screwvala’s upGrad announces the consolidation of its three subsidiaries

Our Bureau Mumbai | Updated on November 25, 2021

Consolidation will create one integrated edtech company in India

upGrad has announced the merger of its subsidiaries, upGrad Campus (originally Impartus), upGrad Jeet (The GATE Academy), and upGrad KnowledgeHut (KnowledgeHut) to become a global integrated LifeLong Learning company.

The consolidation will create one parent company in India that will drive upGrad’s vision for an integrated strategy to expand and drive transnational learning through 2022, the company said in a statement.

Consolidate position

Ronnie Screwvala, Chair and Co-Founder, upGrad, said, “The merger of all the India entities is to strengthen the corporate structure and consolidate our position as a truly integrated edtech player and provide a strong foundation for our global strategy. upGrad is built based on the impact we create for our learners lives and the outcomes & ROI we deliver. We want the upGrad brand to permeate the full range of our offerings and so one merged entity makes sense. Our offices in APAC, EMEA & US will continue to operate as independent subsidiaries.”

The merger will ensure that upGrad, which is at present 2X of any other player in the market, will achieve the goal of being 4X its nearest competitor by the end of CY 2022 as the higher edtech space expands globally through all of 2022, the company said.

Also see: Non-linear thinking is not just about commercial capital: Ronnie Srewvala

upGrad aims to achieve 7.5 million registered users by CY 2024 by partnering with over 1,298 universities, 3,110 corporates, and expanding its network of faculty, mentors, and experts to 11,078. At present, upGrad has over 300 university partnerships with 2 million-plus registered users across 50 countries and robust enterprise business with a client base of 1,000 companies worldwide.

Published on November 25, 2021

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