Edtech firm upGrad invests Rs 30Cr to set up TuringMinds to power emerging tech products of new economy

Edtech startup upGrad announced that it has invested Rs 30 crore with an aim to strengthen its product vertical under the brand TuringMinds.

TuringMinds was set up to cater to the increasing traction from enterprises for outsourced research and product development, leveraging this one-of-its-kind scholar pool.

Currently, It operates over 15+ offline facilities in the US, India, Europe, the UK, and the Middle East. Further, its offices in Hyderabad, Bengaluru, and Detroit operate with a professional workforce of 250 product engineers and aims to double this in the next quarter, the company said in a statement.

“TuringMinds specializes in taking an idea, quickly building prototypes and Accelerators (Apps), testing them with the industry, and picking the cherries among them,” said Prof Anuradha Sharma, President of TuringMinds. “We are seeing tremendous response from industries globally (SMEs to MNCs) for developing world-class products and services in emerging technology areas like AI and ML,” added Prof Anuradha.

“Our teams will work as the core team to incubate 50 prototypes (including Products and Accelerators) and file 8 to 10 patents to support small and medium-scale industries in the next 8 months," said Prof Anuradha.

Commenting on the development, Dr Dakshinamurthy V Kolluru, CEO of uGDX and TuringMinds added, “We have always worked with a very strong industry-centric DNA, and we further saw this as an opportunity to leverage the expertise of our talent through TuringMinds. TuringMinds provides a one-of-a-kind opportunity for industry-focused academicians to directly work with corporates and create business-ready products for them.”

“In addition to our LifeLongLearning suite, we are hiring bachelor’s to doctorate degree holders in large numbers to fuel our mission of developing full-fledged marketable products. This further gives One upGrad an edge over its peers and strengthens our stature as the key employment enabler within the country,” said Ronnie Screwvala, Co-Founder & Chairperson upGrad.

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