How the Unacademy-upGrad deal unfolded; Why AI could push India’s ER&D revenue past $100B
The Unacademy-upGrad deal began with an audacious pitch, recalls Ronnie Screwvala. Meanwhile, a Nasccom study says the engineering research and development (ER&D) services revenue from India is projected to cross $100 billion by 2030, up from $63 billion in FY26, driven by AI.
The Unacademy-upGrad acquisition unfolded after months of negotiations, finally concluding with a deal of over $200 million. The acquisition brings together two prominent edtech businesses in India, combining upGrad's depth in higher education, online degrees, professional learning, and career development with Unacademy's large consumer education platform, test-prep business, and technology-focused approach.
This merger strengthens upGrad's position with a broader range of offerings and a wider learner journey presence. Additionally, insurtech startups InsuranceDekho and RenewBuy have merged to create a pan-India insurance distribution platform, leveraging InsuranceDekho's northern and western presence and RenewBuy's southern network.
The combined entity boasts a substantial book of business and extensive digital partnerships. In other news, Electronics and IT Minister Ashwini Vaishnaw unveiled a 20-year plan for India's semiconductor ecosystem, known as Semicon 2.0, aiming to boost local manufacturing and strengthen the design and skills base. Meanwhile, a trivia question posed is related to Gadsby, a novel devoid of the letter 'e'.
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