HCL Tech to Shift Workload Out of India amid Covid-19 Surge

HCL Technologies is shifting workload from India to other geographies in order to sustain business continuity amid the second wave of record-high Covid-19 cases. The company has claimed that it is engaging closely with clients to prioritise work.

In a PTI report, HCL Technologies President and CEO C Vijayakumar said the company is working with clients to prioritise important work. HCL already has almost 30 percent of its workforce present outside India.

“Some geographies have stabilised and their vaccination levels are very high, so they are taking a little more load. Clients are very understanding and supportive. And we are working with them to see how, if there is a shortfall of people in certain operations, what can we do to offset that, how can we prioritise some work over the other…very active conversations happen on a continuous basis,” Vijayakumar said.

UpGrad Raises $120 Million from Temasek

Education technology startup upGrad, has raised $120 million (Rs 900 crore) from Singapore’s sovereign fund Temasek in its first external fundraising.

Promoted by media entrepreneur Ronnie Screwvala, the six-year-old Mumbai-based company is expected to be valued at $575-675 million after the funding. Apart from Screwvala, upGrad’s founding team includes Mayank Kumar and Phalgun Kompalli.

“The proceeds will be used for mergers and acquisitions to complement our ecosystem in higher education and working professional bases,” Screwvala told.

Besides acquisitions, the fresh infusion of capital will go into expanding upGrad’s presence into the US, UK, Middle East and the Asia-Pacific. In the last six months, the edtech firm has set up a ground presence in the Asia-Pacific region.

upGrad works in the post K-12 education space, offering online courses from universities around the globe.