Edtech platform upGrad has fully acquired The Gate Academy (TGA) for an undisclosed amount. States that it is the first among a series of mergers and acquisitions that upGrad plans to announce over the next three months.
The company also plans to invest Rs 100 crore into TGA to develop 20,000 hours of content in multiple languages, providing TGA the access to at least one million test applicants, annually.
upGrad is one of India’s leading coaching institutes with 57 centers across India and 76 million video hours consumed by its almost 2 lakh enrolled learners for GATE and other entrance tests for various Public/Government Sector jobs. Data shows that just the Government Exam Prep market sees around 40 Million applicants every year spending in a range of ₹10,000, thus opening up a new ₹400 Billion market for the ed tech platform.