Edtech start-up upGrad has made its entry into the test preparation market by acquiring The Gate Academy (TGA) for an undisclosed amount.
Post the acquisition, TGA will operate as a subsidiary of upGrad and will continue with its brand name. Ritesh Raushan will pursue as the CEO of the entity to build this business line, with support from upGrad, who will be providing its proprietary online learning solution and tools for enhancing the learning experience, as well as its sales, marketing, and content prowess.
upGrad also plans to invest over Rs 100 crore into this test preparation subsidiary and will be developing over 20,000 hours of content in multiple languages to provide access to at least one million test-takers annually.
Announcing the acquisition, upGrad Co-founders Ronnie Screwvala & Mayank Kumar, said in a joint statement, “We’re thrilled to onboard Ritesh & the team. TGA provides upGrad a non-linear growth opportunity in new-segment entry and deeper penetration in the semi-urban & rural markets, which is in line with our core vision of making Bharat employable by adopting the mantra of Lifelong Learning. With every strategic move, we are ensuring that upGrad leads from the front as India emerges as the teaching capital of the world.”
The edtech leader also plans to invest over Rs 100 crores into this test preparation subsidiary and will be developing over 20,000 hours of content in multiple languages to provide access to at least one million test-takers annually.