upGrad to launch offline higher education brand UGDX with $30M investment
Edtech playeron Monday said it has invested $30 million (about Rs 245 crore) to launch its new offline higher education brand 'UGDX'.
With this investment, UGDX will open 10 institutes by next year, including three in the US. Of these, the company's San Francisco unit will go live in January 2023.
Five of these institutes will be set up in Delhi, Chennai, Mumbai, Hyderabad, and Bengaluru, and one each in Singapore and the Middle East, the edtech company said in a statement.
The company aims UGDX to reach an operational break-even in five quarters from its launch, it added.
"As part of our goal to be the world's first and largest fully integrated higher edtech company spanning college learners and working professionals from the age of 18 years to over 60 years, this is a natural extension as we move to a very scaled blended offline and online model under our upGrad brand," said Ronnie Screwvala, Co-founder and Chairperson, upGrad.
At present, the company has facilities in Mumbai, Hyderabad, and Bengaluru.
Under UGDX, upGrad plans to have faculty recruitments in various geographies and will use technology to integrate campuses, faculty, and corporates within one ecosystem.
UGDX will specialise in AI, machine learning, cybersecurity, blockchain, connected devices, IoT, quantum computing, digital management, leadership courses, and the cloud, offering certificates, bachelor's, master's and doctoral programmes in India.
UGDX recently acquired INSOFE, a data science, AI, and ML-focused offline institute.
"Rich engagements with industry connections will also enable our learners with real-world experiences from day one. All our programmes have at least twice the number of capstones and project work compared to traditional programmes," Dakshinamurthy Kolluru, Founder and CEO, upGrad INSOFE, who will also head the UGDX, told IANS.
(With inputs from PTI and IANS.)
Edited by Suman Singh