Edtech platform upGrad announced its entry into the Pacific region by establishing its first offline medical institute in the Republic of Vanuatu. The institute, called the upGrad Institute of Medical Sciences (UIMS), will focus on training students in modern clinical competencies and imparting medical skills. Applications for UIMS will be invited soon, according to upGrad.
To set up the university, upGrad has allocated a $10 million investment, which is part of its broader strategy to establish three medical schools in the region. The company also expressed its intention to establish “a few more” such institutes in select geographies in the near future. upGrad, founded in 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, is an edtech platform that offers upskilling courses to working professionals.
The expansion into the Pacific region will enable upGrad to strengthen its presence and synergies with Australia and New Zealand. Gaurav Kumar, upGrad’s Head of Corporate Development and M&As, stated that the initiative is part of their multi-campus strategy and aims to accelerate cross-border synergies between the countries, putting Vanuatu on the global map.
upGrad, backed by prominent investors like Temasek, International Finance Corporation, and IIFL, entered the unicorn club in August 2021 after securing $185 million in funding at a valuation of $1.2 billion. Since its inception, the company has raised a total of $668 million in funding across multiple rounds.
Despite recent challenges such as layoffs and mounting losses, upGrad remains focused on expansion. The edtech platform claims to have enrolled over 10 million learners across 70 countries and has partnerships with 300 universities and 20,000 recruitment partners. Additionally, its B2B vertical serves more than 3,000 corporate clients worldwide.
While the Indian edtech ecosystem faces funding constraints and macroeconomic pressures, the industry continues to explore opportunities in offline spaces to diversify offerings and expand its reach. The Indian edtech market is projected to reach an estimated $29 billion by 2030, indicating its potential for growth and innovation.
