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upGrad To Open 100 Experience And Learning Centers, Commits Rs 100 Crore

OutlookIndia

OutlookIndia · 1y ago

upGrad To Open 100 Experience And Learning Centers, Commits Rs 100 Crore

Ronnie Screwvala-led edtech upGrad is launching 100 offline Connect and Counselling touch-points and Learning Centres in India. The company has already inaugurated two counseling centers in Mumbai and Delhi, along with learning centers in Indore and Pune. The goal is to counsel over half a million individuals on their career moves and enroll over 10,000 learners. upGrad has set aside Rs 100 crore for this expansion plan to reach smaller towns and places outside big cities. The company is also in talks to acquire American online education company Udacity and is looking to raise $100 million from investors, with the majority allocated for the Udacity deal.

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Edtech unicorn upGrad names Ankur Nyati as the new President of its Study Abroad segment

IndianStartupNews

IndianStartupNews · 1y ago

Edtech unicorn upGrad names Ankur Nyati as the new President of its Study Abroad segment

Edtech company upGrad has appointed Ankur Nyati as the new president of its Study Abroad segment. With over two decades of experience in sectors like manufacturing, retail, e-commerce, and education, Nyati will lead the company's efforts to establish a dominant position in the global education market. upGrad also plans to expand its physical presence in India through the opening of 100 offline connect and counseling touchpoints, supported by an initial investment of Rs 100 crore.

Edtech Upgrad aims for IPO in two years

Economic Times

Economic Times · 1y ago

Edtech Upgrad aims for IPO in two years

Mumbai-based edtech unicorn Upgrad plans to go public through an IPO within the next two years. The company aims to achieve milestones like $750 million in revenue, an 80% gross margin, and a 50% net margin before proceeding with the listing. Upgrad focuses primarily on digital operations in India and intends to list on the Indian stock market. Currently, the company has a run rate of $400 million and recorded significant revenue growth in the previous financial year. It has also allocated funds to open offline touch-points and learning centers.

I want to fix Bengaluru’s traffic, says EaseMyTrip’s Prashant Pitti; commits Rs 1 crore to map choke points - The Economic Times

Economic Times

Economic Times · 22d ago

I want to fix Bengaluru’s traffic, says EaseMyTrip’s Prashant Pitti; commits Rs 1 crore to map choke points - The Economic Times

EaseMyTrip cofounder Prashant Pitti pledged Rs 1 crore to create an AI-based system to identify Bengaluru’s traffic choke points, motivated by his experience of being stuck in traffic for over two hours. By employing Google Maps, satellite data, and machine learning, the goal is to map congestion areas. Pitti seeks government collaboration and public support to implement the solution. The initiative includes hiring AI professionals, using advanced technology, and conducting field pilots.

Varun Garg Quits Edtech Unicorn upGrad, Joins Nandan Nilekani’s EkStep

Inc42 · 1y ago

Varun Garg Quits Edtech Unicorn upGrad, Joins Nandan Nilekani’s EkStep

Varun Garg, the President of Learning Experience at upGrad, has departed from the edtech company after 7.5 years. His exit comes nearly 10 months after upGrad's CEO, Arjun Mohan, also left the company. Garg has joined EkStep, a nonprofit organization founded by Nandan Nilekani, focused on providing learning opportunities to students through a collaborative platform. Kshitij Jain, Raj Reddy, Abhishek Agarwal, and Ashish Nagar will take over Garg's responsibilities at upGrad, according to the company's co-founder and MD, Mayank Kumar.

Vedanta Commits Rs 30k Crore Investment in Northeast in Oil & Gas, Critical Minerals and Other Sectors

OutlookIndia

OutlookIndia · 2m ago

Vedanta Commits Rs 30k Crore Investment in Northeast in Oil & Gas, Critical Minerals and Other Sectors

Vedanta Group announced a Rs 30,000 crore investment in Northeast India, targeting sectors like oil and gas, critical minerals, renewable energy, and data centers. This investment spans Arunachal Pradesh, Nagaland, Tripura, Meghalaya, and Mizoram, aiming to unlock regional hydrocarbons and generate up to 1 lakh jobs, enhancing socio-economic development. Vedanta is expanding its social impact initiatives, including Nand Ghars, handloom skill centers, and digital classrooms to foster a brighter, inclusive future.

Exclusive: upGrad raises $35 Mn debt from EvolutionX

Entrackr

Entrackr · 1y ago

Exclusive: upGrad raises $35 Mn debt from EvolutionX

Edtech unicorn upGrad has raised Rs 287.5 crore (approximately $35 million) from EvolutionX. This is the first debt funding for the Mumbai-based company this year. The board at upGrad has passed a special resolution to issue 28,75,000 debentures at an issue price of Rs 1,000 each to raise Rs 287.5 crore or $35 million, its regulatory filing accessed from the Registrar of Companies shows. The company will use these funds for growth, operating expenses, and general corporate purposes, according to the filings. upGrad has raised over $650 million to date including $36.5 million via right issue from Teamsek, founder Ronnie Screwala, and other in March last year. The Temasek-backed company was reportedly in talks to raise $100 million to close the acquisition of online education firm Udacity. According to the startup data intelligence platform TheKredible, Temasek is the largest external stakeholder with 20.7% while Upgrad’s co-founder and chairperson Ronnie Screwvala holds a major 22.4% of the company. upGrad forayed into the offline higher education space in 2022 and invested $30 million to set up ten global campuses across India, the US, and other regions. upGrad experienced notable growth as its operational revenue increased by 72% to Rs 1,194 crore in FY23, up from Rs 692 crore in FY22. However, alongside this growth, the company’s losses also rose by 82% to Rs 1,114 crore in FY23. The company is yet to file its annual results for FY24.

Delhi-based IVF chain Gaudium mulling fresh fundraise in bid to expand

VCCircle

VCCircle · 1y ago

Delhi-based IVF chain Gaudium mulling fresh fundraise in bid to expand

New Delhi-based fertility treatment clinic Gaudium IVF is looking to raise approximately Rs 100 crore ($12.1 million) to expand its operations across India. The fundraise will be used to open new centers in major cities, allowing Gaudium to establish a pan-India presence. Founded by Manika Khanna, Gaudium IVF aims to provide quality fertility treatment options to couples in need.

Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Economic Times

Economic Times · 1y ago

Physics Wallah eyes offline expansion in 2024 with 100 physical centres

Edtech unicorn Physics Wallah plans to expand its offline presence to 100 centers in 2024, up from 64. Co-founder Prateek Maheshwari stated that the expansion will be funded from the Rs 100-crore corpus allocated for two years starting January 2023. Physics Wallah aims to reach 2.4 lakh students, up from 1.4 lakh in the previous year. The company is set to enter Tamil Nadu through a partnership with Xylem Learning in 2024. Physics Wallah is also developing Alakh AI, a language-agnostic generative AI study companion, set to launch in February 2024.

UrbanVault starts two coworking centres in Gurugram; to invest Rs 100 crore in FY26 to expand biz - The Economic Times

Economic Times

Economic Times · 1m ago

UrbanVault starts two coworking centres in Gurugram; to invest Rs 100 crore in FY26 to expand biz - The Economic Times

UrbanVault has launched two coworking centers in Gurugram, spanning 35,000 square feet, and plans to invest over Rs 100 crore in FY26 to expand across India. These new centers, located on Golf Course Road, offer premium office spaces with seating for 700 and start at Rs 12,000 per seat. The company, which operates 2.5 million sq ft across multiple cities, anticipates reaching a revenue of over Rs 250 crore by FY26, driven by strong market demand.

Wedding services startup Meragi mops up $9.1 million in round led by Accel

Economic Times

Economic Times · 1y ago

Wedding services startup Meragi mops up $9.1 million in round led by Accel

Wedding services startup Meragi has raised $9.1 million in a funding round led by Accel. The funds will be used to expand into new cities, establish partner venues and experience centers, and develop advanced tools. Meragi offers end-to-end wedding services and currently operates in Bengaluru, Hyderabad, and Goa. The company aims to double its business and reach a revenue of Rs 100 crore by the end of the current financial year. Accel believes Meragi's innovative, all-in-one customer experience will resonate nationwide and transform the wedding industry.

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