UpGrad, an edtech startup, announced a Rs 30 crore investment to strengthen its product vertical under the brand TuringMinds.
TuringMinds was founded to meet the growing demand from businesses for outsourced research and product development by leveraging this one-of-a-kind scholar pool.
It currently operates over 15 offline facilities in the United States, India, Europe, the United Kingdom, and the Middle East. Furthermore, its offices in Hyderabad, Bengaluru, and Detroit employ a professional workforce of 250 product engineers, which the company plans to double in the next quarter, according to a statement.
“TuringMinds specialises in taking an idea, quickly building prototypes and Accelerators (Apps), testing them with the industry, and picking the cherries among them,” Prof Anuradha Sharma, TuringMinds’ President, said. “We are seeing tremendous interest from industries around the world (from SMEs to MNCs) in developing world-class products and services in emerging technology areas like AI and ML,” Prof Anuradha added.
“In the next eight months, 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,” Prof Anuradha said.
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 offers a one-of-a-kind opportunity for industry-focused academicians to work directly with corporations to develop business-ready products.”
“In addition to our LifeLongLearning suite, we are hiring a large number of bachelor’s to doctorate degree holders to fuel our mission of developing full-fledged marketable products. This gives One upGrad an advantage over its competitors and strengthens our position as the country’s leading employment enabler,” said Ronnie Screwvala, Co-Founder and Chairperson of upGrad.
