upGrad invests INR 30 crores to set up TuringMinds to Power Emerging Tech products of New Economy
Mumbai : Asia’s largest higher Edtech company upGrad records another milestone within the product segment with its brand ‘TuringMinds’.
With more than 150 full-time faculty (94% PhDs), One upGrad has become a powerhouse in the most coveted emerging technology areas like AI and ML. TuringMinds was set up last year to cater to the tremendous traction from enterprises for outsourced research and product development, leveraging this one-of-its-kind scholar pool.
“TuringMinds specializes in taking an idea, quickly building prototypes and Accelerators (Apps), testing them with the industry, and picking the cherries among them,” says 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.
With an investment of INR 30 crores TuringMinds currently operates with over 15+ offline facilities in the US, India, Europe, UK, and Middle East. Their offices in Hyderabad, Bengaluru and Detroit are already operating with a professional workforce of 250 product engineers and the business further aims to double this in the next quarter. TuringMinds is building a complete ecosystem of senior Data Scientists and ML engineers through campus recruitments in India. On the need for such strong hiring in these times, Prof Anuradha added, “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.”
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 and Chairperson, upGrad.
Headquartered in India, TuringMinds is actively expanding its global footprint with a strong business goal of incubating and designing 50+ prototypes every year. It has set out a clear target to become the market leader building an INR 800 crores ($100 million) business with strong Intellectual Properties in the next 5 years.