UpGrad acquires e-learning platform Harappa Education for Rs 300 crore
UpGrad completed the transaction with Harappa shareholders Bodhi Tree Systems, a new platform between James Murdoch and Uday Shankar, and co-founders Pramath Raj Sinha and Shreyasi Singh.
“We are seeing strong demand from our customers, and with the arrival of Harappa, we believe we can grow exponentially within the segment by leveraging synergies,” said Ronnie Screwvala and Mayank Kumar, co-founders. from upGrad.
Founded in 2015, UpGrad offers advanced courses in undergraduate, campus and employment-related programs, and for study abroad, to college learners and working professionals in the 18 age bracket. at 50 years old.
While Harappa recorded revenue of Rs 75 crore in FY22, upGrad recorded consolidated revenue of Rs 302.26 crore and net loss of Rs 211 crore in FY21 .
“Consolidations bring like-minded entrepreneurs together to create powerful and inspired formations. Harappa and upGrad will anchor our purpose and belief in creating a healthy learning ecosystem for lifelong learners in India and abroad,” said Pramath Raj Sinha, co-founder of Harappa.
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Sinha co-founded Harappa in 2018 with Shreyasi Singh, former editor of India Inc.
Harappa offers self-study courses and refresher courses for learners and claims to have an active customer base of 100 medium and large organizations.
Last week, UpGrad acquired Wolves India, a recruitment and staffing platform based in Bengaluru. Previously, it purchased Insofe, Work Better, Talentedge, KnowledgeHut, Campus, Rekrut and Global Study Partners.