Edtech unicorn upGrad will invest an additional $40 million in its portfolio company Harappa Education while another edtech, Bhanzu, said it has raised $15 million in a Series A funding led by Eight Roads Ventures.
upGrad to invest more in Harappa Education
Ronnie Screwvala’s upGrad said it will invest an additional $40 million in portfolio company Harappa Education to build an online leadership school called Harappa Global School of Leadership.
This comes a month after co-founder Mayank Kumar told DealStreetAsia in an interview that “certain newer businesses that we have launched and acquisitions we have made, such as study abroad, international business and job assured platform, need investments to scale up”.
upGrad has been on an acquisition spree, with six companies in its kitty so far this year, including test-preparation startup Exampur and recruitment and staffing company WOLVES India. Last week, it acquired corporate training solutions company Centum Learning, a unit of Bharti Enterprises Ltd, in a share-swap deal.
Eight Roads, B Capital invest in Bhanzu
Bhanzu, a global math learning platform, on Thursday said it has raised $15 million in a Series A funding led by Eight Roads Ventures.
The company, founded in 2020 by the World’s Fastest Human Calculator, Neelakantha Bhanu, also received capital from B Capital’s Ascent Fund in the latest round.
Bhanzu aims to utilise the funding to expand its business globally across multiple geographies, enhance its tech infrastructure, increase its workforce and strengthen its curriculum. The company also aims to develop a curriculum in multiple languages to better cater to the various local audiences across Asia.