South Asia’s largest online higher education company Archives - PuneDiary.Com https://punediary.com/tag/south-asias-largest-online-higher-education-company/ Each & Everything About Pune Tue, 27 Apr 2021 05:14:38 +0000 en-GB hourly 1 https://wordpress.org/?v=6.2.5 https://punediary.com/wp-content/uploads/2018/12/cropped-pen-32x32.png South Asia’s largest online higher education company Archives - PuneDiary.Com https://punediary.com/tag/south-asias-largest-online-higher-education-company/ 32 32 Global edtech major upGrad raises USD 120 million https://punediary.com/global-edtech-major-upgrad-raises-usd-120-million/ https://punediary.com/global-edtech-major-upgrad-raises-usd-120-million/#respond Tue, 27 Apr 2021 05:14:38 +0000 https://punediary.com/?p=4408 Global edtech major upGrad raises USD 120 million

Mumbai, 26th April 2021: upGrad, South Asia’s largest online higher education company, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore. This is the first external funding raised by the edtech major. Since its founding six years ago in 2015, upGrad has been 100% owned, funded, and run […]

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Global edtech major upGrad raises USD 120 million

Mumbai, 26th April 2021: upGrad, South Asia’s largest online higher education company, today announced that it has raised USD 120 million from Temasek, a global investment company headquartered in Singapore. This is the first external funding raised by the edtech major. Since its founding six years ago in 2015, upGrad has been 100% owned, funded, and run by its co-founders as a capital-efficient business.

upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations, bolster its technology and product capabilities, pursue M&A opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its USD 2 billion revenue goal by 2026, thereby reinforcing its position as a global higher-edtech leader emerging from India.

upGrad Co-Founders Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli said in a joint statement, “We welcome Temasek in our mission to power career success for each and every member of the global workforce as their trusted LifeLongLearning partner and drive meaningful career outcomes. This capital will further fuel our commitment towards global expansion as well as deeper India penetration, as we march forward with our goal of making India the teaching capital of the world.”

Credit Suisse acted as the exclusive financial advisor to upGrad, and Rajaram Legal acted as legal advisor.

Global edtech major upGrad raises USD 120 millionAbout upGrad

upGrad is South Asia’s largest online higher edtech company offering 100+ courses in collaboration with top-notch global universities like Duke Corporate Education (US), Michigan State University (US), Liverpool John Moores University (UK), Deakin Business School (Australia), Swiss School of Business Management, (Geneva), IIT Madras (India), IIM Kozhikode (India), and others. Founded in 2015, the international edtech leader has impacted over 1 million total registered learners in over 50+ countries across the world.

With an 85% program completion rate, which otherwise is 3-6% for other MOOCs, outcome-based learning approach, industry-relevant curriculum, finest university credentials, strong mentorship, and steadfast career support, upGrad has solidified its position to command an ARPU of INR 2.5 lakhs – highest in the Indian online education sector, which indeed bears testimony to its robust model. upGrad differentiates itself in driving meaningful career outcomes for its learners, in terms of career transition, acceleration, or elevating professional confidence.

upGrad has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upGrad has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50, has been ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021, and has won the title of ET Best Education Brand 2020.

Additionally, in 2020, the company won several accolades including, the title of ‘Best Communication and Teaching Platform’ in the Education Innovation Awards by Entrepreneur India, ‘Takshila Award’ by the 3AI Pinnacle Awards for its programs in AI, Analytics, and Data Sciences, the ‘Best Corporate Training Programme’ by the 10th Annual Indian Education Awards and received the award under ‘Innovative Initiative’ for its Android App at the mBillionth Awards.

To know more, visit: http://www.upgrad.com

About Temasek

Temasek is an investment company with a net portfolio value of S$306 billion (US$214 billion) as of 31 March 2020. Its three roles as an Investor, Institution, and Steward, as defined in the Temasek Charter, shape Temasek’s ethos to do well, do right and do good. Temasek actively seeks sustainable solutions to address present and future challenges, through investment and other opportunities that help to bring about a better, smarter, and more sustainable world.

For more information on Temasek, please visit www.temasek.com.sg

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Edtech leader upGrad & AR pioneer EyeWay Vision partner to create one-of-a-kind AR learning experience https://punediary.com/edtech-leader-upgrad-ar-pioneer-eyeway-vision-partner-to-create-one-of-a-kind-ar-learning-experience/ https://punediary.com/edtech-leader-upgrad-ar-pioneer-eyeway-vision-partner-to-create-one-of-a-kind-ar-learning-experience/#respond Thu, 15 Apr 2021 05:25:34 +0000 https://punediary.com/?p=4312 Edtech leader upGrad & AR pioneer EyeWay Vision partner to create one-of-a-kind AR learning experience

MUMBAI, India, & SAN JOSE, Calif. — April 14, 2021 — upGrad, South Asia’s largest online higher education company, and EyeWay Vision today announced their partnership, enabling upGrad to become the first Indian edtech company with an enhanced AR-driven learning experience. EyeWay Vision Ltd, an Israeli company developing an innovative wearable augmented reality platform, will bring one-of-a-kind immersive augmented reality […]

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Edtech leader upGrad & AR pioneer EyeWay Vision partner to create one-of-a-kind AR learning experience

MUMBAI, India, & SAN JOSE, Calif. — April 14, 2021 — upGrad, South Asia’s largest online higher education company, and EyeWay Vision today announced their partnership, enabling upGrad to become the first Indian edtech company with an enhanced AR-driven learning experience. EyeWay Vision Ltd, an Israeli company developing an innovative wearable augmented reality platform, will bring one-of-a-kind immersive augmented reality (AR) to upGrad learners.

The global e-learning market was estimated at US $144 billion in 2019 and is forecast to reach US $374.3 billion by 2026, according to market research firm Facts and Factors. The market for virtual and augmented reality is forecast to reach more than $67 billion globally by 2024, according to AR/VR analyst firm Digi-Capital. upGrad has more than one million learners in more than 50 countries and has recorded an annual revenue run rate of 165 Million USD for the fiscal year 2021.

“Partnering with upGrad is the perfect opportunity to apply EyeWay’s advanced AR technology to enhance the whole learning experience by making it unprecedentedly immersive and distraction-free, gamifying online learning for high course completion rates. EyeWay’s exceptional AR uses eye-tracking, direct retinal projection, and foveated projection to produce a tenfold improvement in visual enhancement. This can disrupt multi-billion-dollar markets like educational technology where an impeccable visual experience is a key to user value,” commented Dr. Nikhil Balram, CEO of subsidiary company EyeWay Vision Inc. in Silicon Valley, charged with bringing products to market. Dr. Balram is a renowned AR/VR expert, former head of display at Google, and adjunct professor at Carnegie Mellon University, guest professor at the Indian Institute of Technology (IIT) in Gandhinagar, India, and former visiting professor at the University of California, Berkeley.

The Israeli AR pioneer is developing products based on advanced immersive AR technology, enabling new forms of immersive entertainment, digital learning, e-commerce, and other enterprise applications. Both EyeWay Vision & upGrad share a common vision of creating greatly enhanced immersive learning experiences that customers can access anytime and anywhere.

Ronnie Screwvala & Phalgun Kompalli, Co-founders upGrad, said in a joint statement, “At upGrad, we believe in bringing the best and the latest technology to enhance the learning experience for our learners. The partnership with EyeWay Vision is a path-breaking step wherein we look at developing an augmented three-dimensional interactive learning environment to keep our learners engaged. Not only would this move disrupt the tech market at large but it would also contribute towards our vision of making world-class education mainstream.”

The EyeWay Vision prototype offers a very high dynamic range, with brightness ranging from ultra-bright 20 thousand nits down to a very low black level of 0.1 nits, allowing it to be used indoors and outdoors in all kinds of lighting. It offers an extremely wide color gamut (Rec 2020), retinal resolution, naturally wide field of view, and dynamic focusing, presenting rich and natural digital content that looks completely realistic. The prototype is expected to be available towards the fourth quarter of 2021.

Jeremy Bailenson, VR professor at Stanford University, founding director of Stanford’s Virtual Human Interaction Lab, and EyeWay Vision advisory board member explained, “If there is one thing the pandemic has taught us, it is that digital learning works and is here to stay. The next phase of this virtual revolution will be to leverage more immersive technology. While AR has shown promise to be a tremendous tool for learning, it hasn’t yet taken off due to limitations around the field of view, the brightness and color range of images, and resolution. Eyeway Vision has created an incredible system to overcome these challenges, and there is nothing else like it on the market today. I am excited for digital learning to become more immersive, and to help Eyeway Vision become a leader in this space.”

 “Incorporating AR technology into online learning is a compelling application that creates an engaging and immersive learning experience for students in digital education,” commented Anthony Rowe, Siewiorek and Walker Family professor of electrical and computer engineering, at Carnegie Mellon University. “EyeWay and upGrad’s partnership could pave the way for a new digital learning experience that could be the future of online learning,” he continued.

Through this partnership, upGrad will leverage EyeWay’s customized system to explore the development of AR-enhanced learning experiences and online programs. At an advanced stage, EyeWay and upGrad may include university partners to join in a pilot program. This move can make upGrad the first Indian edtech company and one of the very few globally to incorporate mixed reality to enhance the learning experiences of its online learners. EyeWay is currently developing an immersive AR head-worn prototype. This prototype will be used to enable an immersive AR learning experience that will further be developed by upgrade and its content partners.

About upGrad

the upgrade is South Asia’s largest online higher edtech company offering 100+ courses in collaboration with top-notch global universities like Deakin Business School (Australia), Duke CE (US), Michigan State University (US), Liverpool Business School (UK), IIT Madras (India), IIM Kozhikode (India) and others. The international tech leader has impacted over 1 million total registered learners in over 50+ countries across the world.

the upgrade has ranked No.1 in the LinkedIn Top Startups India 2020 list. This is the third time in a row that upgrade has been featured in the LinkedIn Top Startup list after 2018 and 2019. It is also amongst GSV Global EdTech 50 and has ranked amongst the Top 50 in the FT Asia-Pacific High-Growth Companies 2021 List.

To know more, visit: www.upgrad.com

About EyeWay Vision

EyeWay Vision develops innovative wearable augmented reality systems that provide a truly immersive experience on the go. EyeWay Vision Ltd. was established in 2014 in Israel and has raised the US $46 million in funding from strategic investors including Samsung Next, Verizon Ventures, Horizons Ventures, ICONIQ Capital, and OurCrowd. Eyeway’s proprietary technology is protected by 17 patents published or pending. To learn more about EyeWay Vision, visit http://eyeway-vision.com

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