Indian edtech start-up upGrad invests Rs 30 crore in Hyderabad-based start-up TuringMinds to develop tech products. 

With these fresh funds, the AI-based platform is planning to operate with more than 15 offline facilities across India, the US, the UK and the Middle East. 

Speaking on the latest development, Ronnie Screwvala, the co-founder and chairperson of 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."

Anuradha Sharma, president of TuringMinds, added, “We are seeing tremendous response from industries globally (SMEs to MNCs) for developing world-class products and services in emerging technology areas like AI and ML (machine learning).” She also added that the company is aiming to incubate 50 prototypes and file eight to ten patents to support small and medium scale. 

TurningMinds is eying to achieve Rs 800 crore in revenue next five years. 

Founded in 2015, the Ronnie Screwvala-led brand currently operates with 30 offices across 10 cities in India. Additionally, it has a presence in San Fransisco, New York, Washington, London, Singapore, Jakarta, Vietnam, Sydney, Melbourne and Nairobi. 

The company acquired Harappa Education– an edtech platform based out of New Delhi in July. It invested Rs 300 crore to acquire the majority stake in Harappa.