upGrad targets over Rs 250 cr in gross revenue in FY20

Online learning and education platform upGrad Wednesday said it expects to cross Rs 250 crore in gross revenue in 2019-20, with a significant contribution from its college business. Besides, the company also plans to add over 100 employees by the same time frame from its current strength of over 400 employees.

upGrad has witnessed a 113 per cent jump in its gross revenue from Rs 57 crore in 2017-18 to Rs 121 crore in 2018-19, it said in a statement. The robust financials have helped upGrad to consolidate its position as the largest online higher education company in the country, basis gross revenue generated from the Indian market in three years of its operations, it added.

* * * * Skillenza raises $ 1mn led by CBA Capital's Education Catalyst Fund

* Skillenza, which offers an assessment engine for verifying and validating software engineers and data scientists, Wednesday said it has raised USD 1 million (about Rs 6.96 crore) led by CBA Capital's Education Catalyst Fund (ECF). The pre-series A round also saw participation from existing investors Blume Ventures and Tracxn Labs along with LetsVenture, CIO Angel Network, Keiretsu forum and Hyderabad Angels.

"The current round will be utilised to create new modules for assessment of software engineers and expand into tier II and III cities in India. We are working on credentialing students coming out of engineering colleges and creating a global repository of final year undergraduates," Skillenza CEO Subhendu Panigrahi said. These verified and ranked profiles will help companies to hire talent quickly, he added.

* * * * Mphasis appoints Anurag Bhatia as head of Europe biz

* IT firm Mphasis Wednesday said it has appointed Anurag Bhatia as senior vice president and head of Europe business. Bhatia would be responsible for spearheading growth strategies, client pursuits and enhancing client success in the region, Mphasis said in a statement.

"This appointment reflects the company's commitment to aligning the most-seasoned and innovative leader with the critical needs of clients and with growth opportunities in Europe," the company said.