upGrad acquires data science education firm INSOFE for USD 33 Mn

upGrad is valued at USD 2 billion.

Advertisement

Edtech firm upGrad has acquired the International School of Engineering (INSOFE) in a share swap deal worth USD 33 million. This is upGrad’s seventh acquisition in the last couple of years.

Insofe’s management and investors will get under 1 percent equity in upGrad as part of the deal. upGrad is valued at USD 2 billion.

THE BELAMY

Sign up for your weekly dose of what's up in emerging technology.

Ronnie Screwvala, co-founder and chairman at upGrad, said Insofe delivers global excellence in data science, ML, and AI(AI). INSOFE’s data and analytics courses would align well with upGrad, he added. He said the acquisition will take upGrad to the next level of specialisation. 

INSOFE is Asia’s first data science education institute with a deep focus on data science, AI, and ML. Dr Dakshinamurthy V Kolluru, Dr Sridhar Pappu and A S L Ganapathi Kumar started the institution in Hyderabad in mid-2011 and expanded to Bengaluru in early-2016.

Last month, upGrad completed the acquisition of higher education startup Talentedge. The deal was first announced last year in December. Talentedge is expected to continue operating under its brand name despite the acquisition. Earlier this year, upGrad also acquired Work Better for an undisclosed amount to strengthen its enterprise learning and development offerings. 

The Mumbai-based edtech is also expected to close a funding round in a couple of months. The company is looking to raise around USD 200-250 million.

In its last funding round, upGrad raised around USD 185 million from investors such as Temasek and International Finance Corporation at a valuation of USD 1.2 billion, making it the third edtech to get the unicorn tag.

More Great AIM Stories

Pritam Bordoloi
I have a keen interest in creative writing and artificial intelligence. As a journalist, I deep dive into the world of technology and analyse how it’s restructuring business models and reshaping society.

Our Upcoming Events

Conference, in-person (Bangalore)
MachineCon 2022
24th Jun

Conference, Virtual
Deep Learning DevCon 2022
30th Jul

Conference, in-person (Bangalore)
Cypher 2022
21-23rd Sep

3 Ways to Join our Community

Discord Server

Stay Connected with a larger ecosystem of data science and ML Professionals

Telegram Channel

Discover special offers, top stories, upcoming events, and more.

Subscribe to our newsletter

Get the latest updates from AIM
MORE FROM AIM