[Weekly funding roundup] Venture investments rise by 100pc; Hyderabad-based SaaS startup joins unicorn club
Venture funding into Indian startups in the third week of December touched $134 million, compared to the $61 million raised in the previous week.
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The weekly venture funding into India startups little more than doubled in the third week of December, as compared to the previous week, owing to the large deal sizes in the bracket of $25 million and above.
In fact, before the year ends,
Zenoti a Hyderabad and US-based SaaS startup entered
the coveted unicorn club, indicating a possible beginning of a trend, where
upGrad acquires recruitment firm Rekrut India Dec, 16 2020
upGrad acquires recruitment firm Rekrut India
This 100% acquisition marks an unprecedented M&A in India, where an edtech company has acquired a recruitment firm.
upGrad, India’s largest online higher edtech has acquired Rekrut India, the recruitment and staffing solutions company. This 100% acquisition marks an unprecedented M&A in India, where an edtech company has acquired a recruitment firm.
The Mumbai-based Rekrut India provides solutions to build organisations human capital through their deep sectoral expertise, an extensive network of 100+ recruiting experts, and pioneering products that are agile & adaptive given the complexities of hiring in today’s times. Rekrut has built a wide reach through its multiple hiring models which allow simplified hiring. It is currently working closely with many corporate Startups, MSMEs, and large enterprises.
Homegrown online higher education company upGrad on Tuesday said it has acquired Mumbai-based recruitment and staffing solutions company Rekrut India, for an undisclosed amount. upGrad hopes that the acquisition of Rekrut will turbocharge its career engine by opening up wider placement opportunities and propelling accessibility of its learners to Rekrut s hiring partners. Rekrut has built a wide reach through its multiple hiring models which allow simplified hiring. It is currently working closely with many corporate startups, MSMEs, and large enterprises. Rekrut will now open the floodgate of career opportunities for upGrad learners. Hence, we are thrilled to announce the onboarding of the team, a significant step in making upGrad a career powerhouse for professionals, upGrad Co-founders Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, said in a joint statement.
upGrad, an online higher education company, on Tuesday said it has acquired recruitment and staffing solutions company Rekrut India. While the company did not disclose details of the transaction, upGrad said it has acquired 100 per cent stake in Rekrut India. Given the massive potential of the recruitment sector, which is a Rs 15,000-crore market, upGrad firmly believes an independent business in this sector will provide strong non-linear growth opportunities for the company, it added. Mumbai-based Rekrut India has a network of over 100 recruiting experts and works closely with many start-ups, MSMEs, and large enterprises. Acquisition of Rekrut will turbocharge its career engine by opening up wider placement opportunities and propelling accessibility of upGrad learners to Rekrut s hiring partners, a statement said.
upGrad acquires hiring firm Rekrut India
upGrad said the acquisition of Rekrut will open up wider placement opportunities and propelling accessibility of its learners to Rekrut’s hiring partners.
Edtech firm upGrad has acquired recruitment and staffing solutions firm Rekrut India.
The financial details of the deal have not been disclosed yet.
This is part of a slew of acquisitions by upGrad to expand its presence in professional learning and human capital space. The first such acquisition was of The GATE Academy (TGA) on November 24 through which upGrad entered the test-preparation space.
Mumbai-based Rekrut India provides solutions to build organisations human capital through its sectoral expertise and works with startups, MSMEs, and large enterprises.