UpGrad has closed this transaction with Harappa shareholders, Bodhi Tree Systems, a new platform between James Murdoch and Uday Shankar, and cofounders Pramath Raj Sinha and Shreyasi Singh.
“We see strong demand from our clients, and with Harappa coming in, we believe we can grow exponentially within the segment as we cross-leverage the synergies,” said Ronnie Screwvala and Mayank Kumar, cofounders of upGrad.
Founded in 2015, UpGrad offers upskilling courses in undergraduate, campus and job-linked programs, and for studying abroad, to college learners and working professionals from the age group of 18-50 years.
While Harappa clocked a revenue of Rs 75 crore in FY22, upGrad reported consolidated revenue of Rs 302.26 crore and net losses of Rs 211 crore in FY21.
“Consolidations get like-minded entrepreneurs together to build powerful, inspired formations. Harappa and upGrad will anchor our purpose and conviction to create a wholesome learning ecosystem for lifelong learners in India and abroad,” said Pramath Raj Sinha, cofounder of Harappa.
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Sinha cofounded Harappa in 2018 with Shreyasi Singh, former editor of India Inc.
Harappa offers self-paced courses and upskilling courses to learners and claims to have an active clientele of 100 mid and large-sized organisations.
Last week,
UpGrad acquired Wolves India – a Bengaluru-based recruitment and staffing platform. Earlier, it had bought Insofe, Work Better, Talentedge, KnowledgeHut, Campus, Rekrut and Global Study Partners.
