Edtech startup upGrad invests Rs 30 Cr in TuringMinds
With this investment, TuringMinds plans to operate with over 15 offline facilities in the US, India, Europe, the UK, and the Middle East.
Ronnie Screwvala-led edtech startup on Thursday announced an investment of Rs 30 crore in TuringMinds.
Set up last year, TuringMinds aims to cater to the increased traction from enterprises for outsourced research and product development, leveraging its scholar pool.
With this investment, TuringMinds plans to operate with over 15 offline facilities in the US, India, Europe, the UK, and the Middle East.
Its offices in Hyderabad, Bengaluru, and Detroit are already operating with a workforce of 250 product engineers, and the business further aims to double this in the next quarter.
Speaking about the new development, Ronnie Screwvala, Co-founder and Chairperson, upGrad, said, “In addition to our LifeLongLearning suite, we are hiring large numbers of bachelor’s to doctorate degree holders to fuel our mission of developing full-fledged marketable products. This further gives One upGrad an edge over its peers and strengthens our stature as the key employment enabler within the country."
Ronnie Screwvala, Co-founder and Chairman, UpGrad
upGrad strengthens its domestic leadership with two strategic appointments
In August 2022, the edtech company said it is acquiring Exampur for an undisclosed amount in a cash-and-share swap deal.
Headquartered in India, TuringMinds is actively expanding its global footprint with a strong business goal of incubating and designing 50+ prototypes every year, the release said. It has a clear target to build an Rs 800 crore ($100 million) business with strong intellectual properties in the next five years.
Edited by Suman Singh