Private investment firm Lupa Systems — led by former 21st Century Fox CEO James Murdoch, who is also the son of media moghul Rupert Murdoch — has made its first investment in India via edtech start-up Harappa Education.
Although Harappa Education refused to divulge the details on the investment, it told TMS in an emailed response that Lupa has acquired a majority stake in the start-up and secured its growth plans for the next three years.
Lupa Systems, founded by James Murdoch in 2019, is a private investment vehicle with presence in New York and Mumbai. Since its launch, the company has invested in Tribeca Enterprises, Vice Media and The Void, among others. Lupa Systems India is headed by former Star Sports CEO, Nitin Kukreja.
“Lupa Systems’ investment in Harappa is a meaningful transaction and a committed partnership. This is Harappa’s first round of external funding, with Lupa Systems being the sole investor. The investment gives Lupa a majority stake in Harappa and provides at least a three-year funding runway to us,” said Pramath Raj Sinha, founder and chairman, Harappa Education.
The company said it will use the funds from Lupa Systems to accelerate product development, invest in high-quality curriculum creation, build a rich learning experience, and significantly scale up its presence across corporates and campuses throughout India.
The edtech start-up will continue to be led by its founders Pramath Raj Sinha and Shreyasi Singh, who set up the online education start-up in 2018, dedicated to all the young professionals irrespective of their areas of specialisation.
Evocative of the foundational character of the Harappan civilisation, Harappa Education aims to go back to basics in the learning it imparts but combines it with the latest technology to educate at scale.
“The Lupa team brings invaluable experience in mainstreaming new content-led ideas and building them into global businesses. We are privileged to have this experience back us. We see great demand for our courses and this investment will help us meet these expectations,” said Shreyasi Singh, founder and CEO, Harappa Education.
Lupa Systems’ global investments
Since its launch in 2019, Lupa Systems led by James Murdoch has invested in Tribeca Enterprises, Vice Media and The Void, among others. Lupa Systems India is headed by Nitin Kukreja.