For 3 billion rupees (about $38 million), UpGrad, an edtech unicorn with headquarters in India, purchased Harappa Education.
The co-founders of Harappa, Pramath Raj Sinha and Shreyasi Singh, as well as Bodhi Tree Systems, a new platform founded by James Murdoch, the founder and CEO of Lupa Systems, and Uday Shankar, a former president of Walt Disney Asia Pacific, concluded the deal, according to UpGrad.
Harappa, established in 2018, wants to aid professionals through its many educational initiatives, including enhancing cognitive, social, and behavioural abilities. Shalini Lal, a consultant in organisational development, and Ankur Warikoo, a public speaker, are among its academic members.
100 medium- and large-sized businesses collaborate with Harappa. According to a joint statement from Harappa and upGrad, it is anticipated to generate $9 million in income this year.
Following a US $185 million financing from investors including Temasek, upGrad reached the unicorn club in August 2021. The edtech company said a month before the financing that it had allocated US $250 million for mergers and acquisitions.
Global Study Partners, a company in international education with offices in Australia, and KnowledgeHut, an upskilling platform with US headquarters, are two of the ten companies upGrad has purchased thus far.
