The company has set aside Rs 100 crore to grow in smaller towns and places outside big cities, and they want to speed up their work in the next year
Ronnie Screwvala-led edtech upGrad announced the launch of opening 100 offline Connect and Counselling touch-points and Learning Centres in India to augment its online growth.
The first two such counseling centres have already been inaugurated in Mumbai and Delhi and the first two learning centres are in Indore and Pune.
Initial reactions have been strong as the first 30 days have clocked 500+ career counseling. The goal is for the 100 centres to counsel over half a million on their career moves and the Learning Centres to see enrollments of over 10,000 learners.
The company has set aside Rs 100 crore to grow in smaller towns and places outside big cities, and it wants to speed up its work in the next year. it aims to create 75 centers for counseling, and 25 of them will be specifically for learning. This new plan adds to upGrad's current offline presence, which includes more than 50 branches and 150 partners.
“We've identified the high-demand geographic pockets that will allow talents beyond metros to experience the sincere handholding they need in their lifelong learning journey. Our centres are designed to enhance and ensure every learner who walks in, either existing or potential resonates with the brand DNA and mission to further support them in fast-tracking their decision-making process," added Mayank Kumar, co-founder, and MD, upGrad while talking about the expansion plans.
The Centres will serve as hubs for career counselling for those looking to upskill and reskill and will have access to all of upGrad’s courses and programs in one place.
The edtech has reported revenue of Rs 1,194 crore in 2022-23 (FY23), a 96 per cent increase from Rs 608 crore in 2021-22 (FY22). The company moved to the widely accepted IndAS accounting standard in 2022-23 (FY23) in line with its listing plans.
On the other hand, the edtech is in talks to acquire American online education company Udacity, according to various news reports. Upgrad is also looking to raise around $100 million from investors, with 80 per cent of that amount earmarked for the Udacity deal.
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