Startup Profile
upGrad
Legal entity: upGrad Education Private Limited
Online higher education and career upskilling for working professionals in India
Founders
- Ronnie Screwvala
Co-founder and chairperson of upGrad. Indian media entrepreneur and investor who built UTV Software Communications and sold it to Disney for an enterprise value of about 1.4 billion dollars, then founded Unilazer Ventures and RSVP Movies. He seeded upGrad and is its largest shareholder.
- Mayank Kumar
Co-founder and Managing Director of upGrad. Previously VP of Education at Bertelsmann and Senior Principal at The Parthenon Group. Holds a B.Tech from IIT Delhi and an MBA from the Indian School of Business.
- Phalgun Kompalli
Co-founder of upGrad, leading sales and marketing operations. Previously a Principal at The Parthenon Group and holds a B.Tech from IIT Delhi.
- Ravijot Chugh
Co-founder of upGrad, overseeing career services, product, design, and content. Former product lead at Housing.com, holds a Computer Science degree from IIT Delhi, and was named to Forbes Asia 30 Under 30 in 2018.
Funding rounds
- Series F2024-10-21₹498.00 CrLed by Temasek
- Growth / late-stage (full round)2021-08-09₹1535.50 CrLed by Temasek
- Series (first tranche)2021-04-01₹996.00 CrLed by Temasek
Financials
MCA / self-reported| Fiscal year | Revenue | Profit / (Loss) | Employees |
|---|---|---|---|
| FY22 | ₹608.00 Cr | (₹648.00 Cr) | — |
| FY23 | ₹1194.00 Cr | (₹1142.00 Cr) | — |
| FY24 | ₹1547.00 Cr | (₹560.00 Cr) | — |
The full story
Rich-text rendering of long_story is wired in the design pass.
Timeline
- 2024-10-21Series F from Temasek at flat 2.25 billion dollar valuation — Raised 60 million dollars from Temasek in a Series F at a flat 2.25 billion dollar valuation. Ronnie Screwvala bought Bharti Enterprises' stake, lifting his ownership to about 45 percent.
- 2024FY24 losses cut roughly in half — Reported gross revenue of 1,876 crore rupees in FY24 with net loss reduced about 50 percent year on year to 560 crore as the company moved toward sustainable growth.
- 2021-2022Acquisition-led expansion — Acquired multiple companies including Impartus (2021), INSOFE (2022), Harappa Education (2022), and Centum Learning (2022) to expand into enterprise training, data science education, and skilling.
- 2021-08-09Enters unicorn club with 185 million dollar round — Raised 185 million dollars led by Temasek with IFC and IIFL at a 1.2 billion dollar valuation, becoming India's third edtech unicorn after BYJU's and Unacademy.
- 2015-03upGrad founded in Mumbai — Incorporated in March 2015 by Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, seeded with about 15 million dollars from Unilazer Ventures. Early courses included an entrepreneurship program and a data science program with IIIT-Bangalore.
Data sources
- seed-list + Crunchbase ODM↗ · last fetched 2026-05-28
- Editorial (press release)↗ · last fetched 2026-05-28
- Editorial (press release)↗ · last fetched 2026-05-28
- DPIIT (Startup India)↗ · last fetched 2026-05-28
- Wikidata↗ · last fetched 2026-05-28
- favicon↗ · last fetched 2026-05-31
- Inc42 - upGrad enters unicorn club↗ · last fetched 2026-06-01
- Inc42 - upGrad FY23 revenue↗ · last fetched 2026-06-01
- Entrackr - upGrad FY24 results↗ · last fetched 2026-06-01
- TechCrunch - upGrad unicorn 185 million fundraise↗ · last fetched 2026-06-01
- IndianWeb2 - upGrad Series F Temasek 2.25 billion↗ · last fetched 2026-06-01
- StartupTalky - upGrad success story / founders↗ · last fetched 2026-06-01