upGrad files Merger Scheme to consolidate all M&As into Parent Company

3 Nov 2022 , 10:00 AM

Business Wire India
Asia’s largest higher EdTech player upGrad today announced comprehensive plans to merge all its M&As in India into ‘One upGrad’ and complete the integration process by March to June 2023. 
  
upGrad to date has been most capital efficient in raising external funds, having raised less than USD 300 million – much lower than any other player and in preparation for an IPO in 2024, have chosen to streamline the corporate structure as also expense out all costs related to mergers and their growth capital in their FY22 and partly in FY23 financials.
 
“We are delighted to have over 15 Co-founders from our M&As join the leadership team at upGrad and participate in the Integrated vision – where upGrad has to impact college learners and working professionals in India, Asia, and the world, across their LifeLongLearning journey. Each entity contributes to our building block to make every learner job ready, for the 21st and even the 22nd century. Our model is unique, and we welcome the diversity of our colleagues both in India and globally to achieve our long-term mission of changing the employability landscape and also emerge as an Edtech leader from India for the world. This consolidation also gets us financially ready for a future listing as we put costs behind us between the last and this year to focus on a high growth and high profitability model while creating impact and having the largest alumni base in the Higher Education,” said Mayank Kumar, Co-founder & MD, upGrad. 
About upGrad

upGrad – started in 2015 is a pioneer in the online education revolution, focused on powering career success for a global workforce of over 1.3 billion. It is one of the few Integrated LifeLongLearning Tech Companies in the world – spanning the college learner to the working professional from the age group of 18-50 years and across Undergrad courses, Campus & Job Linked Programs, studying abroad, short form to executive programs to Degrees, Masters and Doctoral – with a learner base of over 3 million across 100+ countries and over 300 University partners and a robust enterprise business with a client base of 1000 companies worldwide.

upGrad’s Global Learning Engine rests on four pillars: (a) its large repository of original & owned content and IP, (b) its own best-in-class proprietary tech platform, (c) its high-touch human-led delivery service backed by coaches & mentors, and (d) an 85% course completion track record, backed by a further 80% career outcomes guaranteed performance.

Already termed Asia’s higher EdTech leader it has offices in the UK, U.S., Middle East, India, Singapore & Vietnam, and a presence in many more countries.