Education Employability and Entrepreneurship
Temasek-backed Indian edtech firm upGrad acquires video-learning solution Impartus
25 May 2021
Mumbai-based online higher education startup upGrad has bought Impartus, a video-learning solutions provider, for INR 150 crore (USD 20.5 million) in a cash and stocks deal.
The development comes three weeks after upGrad raised USD 120 million from Singapore-headquartered Temasek to pursue mergers and acquisitions (M&A) opportunities, expand its graduate and post-graduate degree portfolio in India, and scale its operations globally.
The deal will give an exit to Impartus’s existing investor Kaizen, which had invested USD 4.1 million in the eight-year-old startup in 2015. About INR 50 crore (USD 6.8 million) from the deal proceeds will be used to further scale Impartus this fiscal year.