upGrad buys out Harappa Education for Rs.300-Cr from Bodhi Tree, promoters

Mumbai-based online higher education company upGrad has picked up 100% stake in Delhi-based Harappa Education for USD 38 million (INR 300 crore). upGrad closed this transaction with present Harappa shareholders - Bodhi Tree Systems, (a joint venture between James Murdoch and Uday Shankar) and co-founders Pramath Raj Sinha & Shreyasi Singh. All of them join the upGrad Cap table. Harappa offers self-paced online courses to address the spiralling problem of poor employability, inadequate leadership and an ill-equipped workforce. The company has a clientele of 100 mid and large sized organizations. EY acted as the advisor for Harappa on the transaction.