Online professional education startup UpGrad has acquired Pyoopil, an education technology company, reports Economic Times. According to the report, Pyoopil’s team will join UpGrad and continue building products for working professionals. The report says that the acquisition will enable UpGrad to address the B2B needs in the market. The financial terms of the acquisition was undisclosed.
Started in 2013 by Harsh Tripathi and Ankan Adihikari, Pyoopil has a proprietary course creation tool that enables mentors to create a course, add new content, build a community around courses, among others. The tool is designed to enable mentorship, collaboration and user engagement. Pyoopil had previously raised an undisclosed sum of angel investment.
UpGrad was founded by Ronnie Screwvala, Mayank Kumar, Ravijot Chugh and Prabhav Phalgun in March 2015. It offers a range of courses for professionals including Digital Marketing Certification, Product Management Certification, Android Development Program, PG Diploma in Data Analytics and UpGrad Entrepreneurship Program. The company also plans to launch a Data-Driven Management course in partnership with Gramener. UpGrad’s partners include IIIT-B, Disney India, Ola, Paytm, Snapdeal, Microsoft, Accel Partners, among others.
Other acquisitions and investments in the education industry
– Similar to Pyoopil’s acquisition, NIIT acquired edtech startup, Perceptron that offers MOOC platform for building learning solutions ilimi last month.
– In the same month, Byju’s Learning raised $50 million from the Chan Zuckerberg Initiative and other investors to expand internationally within the next year.
– In June, Bangalore based education tech startup Cuemath raised $4 million (~Rs 26 crore) in a series A round of funding led by Sequoia Capital.
– In May, EduPristine, a Mumbai-based online certification courses provider raised $10 million in funding from private equity fund Kaizen Management Advisors, and education company DeVry Inc.
– In April, Gurgaon based CollegeDekho, an online platform listing colleges across streams in India and offering test preparation material, raised $2 million in funding from Man Capital.