Image Credits: VCG
India’s edtech platform upGrad has recently acquired the International School of Engineering (INSOFE) in a $33 million share swap deal. This is upGrad’s seventh acquisition in the last couple of years.
As part of the transaction, INSOFE’s management and investors will get under 1% equity in upGrad.
Launched in 2010, INSOFE is a Hyderabad, India-based educational organization that focuses on providing data and analytics education programs.
Founded in 2015, upGrad is an online higher education platform providing various programs, ranging from digital marketing, product management, entrepreneurship, and data analytics to data-driven management and digital technology management. The company is now valued at $2 billion.
The acquisition will help upGrad strengthen its AI and ML courses.
Upgrad is raising another round of funds, which is expected to close in a couple of months.