(L-R) Phalgun Kompalli, co-founder; Mayank Kumar, co-founder, MD and Ronnie Screwvala, chairman, co-founder upGrad.

Mumbai-based online education provider UpGrad is allocating $250 million for acquisitions in the coming months to aid its international expansion, Bloomberg has reported.

In a release, UpGrad stated it will target digital learning providers with mentors and coaches, as well as immersive short-form learning start-ups in markets such as Indonesia and Vietnam and across Africa.

The company added that it will announce two acquisitions in the next two months.

UpGrad was founded in 2015 by serial entrepreneur Ronnie Screwvala, who owns more than two-thirds of the company.

Date published: 7 July 2021

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