M&A

M&A

Edtech co upGrad acquires upskilling platform KnowledgeHut for $35-M

Mint  

Mumbai-based Edtech platform for higher education upGrad has acquired Bengaluru-based upskilling platform KnowledgeHut for an estimated USD 35 million, marking its entry into the short-duration course segment. The acquisition will also allow upGrad to double down its presence and offerings for North America, West Asia and Southeast Asia. At present, these markets contribute 65% of KnowledgeHut's overall revenues. KnowledgeHut will continue to work independently as a wholly-owned subsidiary of upGrad, with founder Subramanyam Reddy serving as its CEO. The company aims to help corporates upskill their employees and provides 200 professional certification courses on its platform across 10 segments of web development, machine learning, artificial intelligence and data science, cybersecurity, and cloud computing. upGrad plans to scale course offerings on KnowledgeHut's platform to 400 in the coming year.

From the Venture Intelligence PE-VC Deal Database: In Apr-21, upGrad raised $165-M from Temasek and IFC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)