Mumbai-headquartered upGrad, founded by Indian media mogul and serial entrepreneur Ronnie Screwvala, is betting big on the inorganic growth route to expand its operations at a time when the overall edtech sector is reeling in red.
It announced taking over Harappa Education for Rs 300 crore (about $38 million), marking its ninth acquisition since its inception in 2015. This year alone, upGrad has made four acquisitions, which includes last week’s purchase of Wolves India, a Bengaluru-based recruitment and staffing platform.
“Inorganic is just one vector of our growth. We are equally working organically to scale our presence, including in degrees, study abroad and job-linked programmes,” Mayank Kumar, co-founder & MD at upGrad told DealStreetAsia.