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upGrad appoints Deepesh Dhakad as CPTO

EntrackrEntrackr · 4m ago
upGrad appoints Deepesh Dhakad as CPTO
Medial

upGrad, an integrated skilling and lifelong learning platform, has announced the appointment of Deepesh Dhakad as its Chief Product and Technology Officer (CPTO), effective October 2025. In his new role, Deepesh will lead product, design, and technology functions across upGrad’s learner and enterprise verticals, focusing on scalability, innovation, and global user experience. With nearly two decades of experience, Deepesh has previously held senior roles at Amazon, Flipkart, Unacademy, and Games24x7, where he led product and technology teams managing millions of users globally. His expertise spans product growth, AI-driven systems, and large-scale platform design. Founded in 2015, upGrad offers online and hybrid programs across B2C and enterprise segments and partners with leading Indian and global universities to deliver degree, diploma, and certification programs. upGrad has raised more than $320 million to date. According to the startup data intelligence platform TheKredible, Temasek is the largest external stakeholder with 20.5% while upGrad’s co-founder and chairperson Ronnie Screwvala and family hold 45% of the company. As per TheKredible, upGrad reported an EBITDA profit of Rs 15 crore in FY25 against an EBITDA loss of Rs 285 crore in FY24. It recorded gross revenue of Rs 1,943 crore during the last fiscal year.

upGrad acquires early-talent marketplace Internshala

EntrackrEntrackr · 17d ago
upGrad acquires early-talent marketplace Internshala
Medial

upGrad, an integrated skilling and workforce development company, has acquired the early-talent marketplace Internshala for an undisclosed amount through a transaction in which 90% of the consideration was structured as a stock swap. The deal values Internshala at around Rs 100 crore. According to upGrad, it will invest additional resources to accelerate product innovation, AI-led talent matching, and enterprise hiring models, with the aim of growing Internshala’s revenue from Rs 45 crore to Rs 100 crore or more over the next 18–24 months. The acquisition is intended to enable existing upGrad learners to access internships and job listings available on Internshala, while also onboarding new users to the platform. Internshala will shift towards a more enterprise-focused model by leveraging upGrad’s enterprise business and working closely with companies in the learning and development segment. Internshala will continue to operate as an independent brand under its founder and chief executive, Sarvesh Agrawal. The company aims to leverage upGrad’s scale and technology infrastructure as it expands its offerings and user base. Founded in 2011 by Agrawal, Internshala is an internship and training platform that helps college students build skills and gain real-world experience through internships and fresher jobs. The Gurugram-based company claims to have more than 34 million registered users and around 450,000 employers on its platform, with roughly 3 million active applicants annually. Over 40% of its users come from tier-II and tier-III cities across India.

upGrad set to acquire Unacademy in deal with break fee clause

EntrackrEntrackr · 1d ago
upGrad set to acquire Unacademy in deal with break fee clause
Medial

Online higher education platform upGrad has signed a term sheet to acquire edtech firm Unacademy in an all-stock transaction. The firms will not disclose the valuation until the deal is completed and formally filed. The term sheet was signed after earlier talks between the two companies collapsed in January due to differences over valuation. Announcing the development, upGrad co-founder Ronnie Screwvala said the deal will be structured as a share swap and includes a break fee if the transaction does not close. Importantly, Unacademy’s co-founder and chief executive Gaurav Munjal will continue to lead the company and focus on building online learning products. Screwvala stated, “We at upGrad have signed a term sheet to acquire Unacademy in an all-stock deal, with founder and CEO Gaurav Munjal staying on to build Unacademy and focus on creating online education products that learners love.” He added that the combined entity could benefit from Unacademy’s product capabilities and upGrad’s broader learning ecosystem. According to Screwvala, upGrad’s integrated model spanning segments from K12 to lifelong learning could gain further momentum if the transaction closes. Munjal confirmed the development and said the proposed acquisition will be executed through a 100% share swap deal. Highlighting Unacademy’s recent changes, Munjal said the company has spent the past year restructuring parts of the business. “We consolidated company-operated centres with franchise partners so we could refocus on building great online education products,” he said. The company also completed a Rs 50 crore ESOP buyback, with nearly 40% of former employees participating, Munjal said. He added that Unacademy currently has more than $100 million in cash reserves. On the financial side, Unacademy reported a 16% year-on-year decline in revenue to Rs 826.3 crore in FY25 from Rs 988 crore in FY24. However, the SoftBank-backed firm reduced its EBITDA loss by 38% to Rs 305 crore and cut its net loss by 31% to Rs 436 crore.

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