Upgrad Valuation, Funding & Shareholders Breakdown – 2024

UpGrad valuation, funding and shareholders breakdown 2023

In the dynamic landscape of online education, few players have captured the imagination of learners and investors alike quite like UpGrad. Beyond its cutting-edge approach to online learning, it has captured the attention of educators, investors, and learners worldwide due to its remarkable valuation, dynamic funding history, and a mosaic of influential shareholders. In this article, we embark on a journey to dissect UpGrad valuation, delve into the intricacies of its funding evolution, and look into the pile of diverse shareholders in the EdTech enterprise.

UpGrad valuation, funding and shareholders breakdown 2023

But what sets UpGrad apart is not just its lofty ideals; it’s the concrete steps it has taken to turn these ideals into reality. It’s about creating a platform where cutting-edge technology converges with world-class educational content.

UpGrad Company Profile  

In the ever-evolving realm of education technology, one company has emerged as a trailblazer, redefining how we learn, upskill, and re-skill in the digital age. UpGrad, the brainchild of visionary entrepreneurs Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, has not merely disrupted the traditional education landscape; it has revolutionized it. Founded in 2015.

UpGrad founders Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh.
UpGrad founders Ronnie Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh.

UpGrad was born out of a recognition of the seismic shifts occurring in the job market. The digital revolution was transforming industries at an unprecedented pace, rendering traditional skills obsolete while creating new opportunities. UpGrad saw an opportunity to bridge the gap between traditional education and the skills demanded by the job market. 

UpGrad’s approach to learning combines cutting-edge technology with world-class content. Its courses are designed in collaboration with top-tier universities and industry experts, ensuring that learners receive a curriculum that is both academically rigorous and industry-relevant. 

Some key points of UpGrad

  • It serves in higher EdTech sector
  • Parent company is UpGrad Education Pvt. Ltd.
  • Some of its subsidiaries are – Knowledgehut Solutions Pvt. Ltd, Impartus Innovations Pvt. Ltd., Centum Learning Limited, Global Study Partners Pvt. Ltd, and more.
  • Termed with the title of Asia’s biggest EdTech leader.
  • Has offices in India, Middle East, UK, U.S, Singapore, etc. 
  • As of 2022, UpGrad reported a revenue of Rs.679 crore, as compared to Rs.327 crore in 2021.
  • Became a unicorn on August 9, 2021, by raising $185 million. 
  • UpGrad boasts an impressive roster of alumni who have gone on to secure jobs at top companies, launch successful startups, and excel in their chosen fields. 

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UpGrad Valuation 

Beyond the algorithms and balance sheets, the story of UpGrad’s valuation is a testament to its unwavering commitment to transforming education and empowering learners everywhere. UpGrad’s valuation journey is akin to a thrilling odyssey, marked by significant milestones that reflect not only its financial success but also its growing impact on the education landscape.

UpGrad raised a valuation of $2.25 billion in March, 2023. Bodhi Tree, ETS Global, and Singapore based Kaizen Management Advisors, participated in the fundraising part and in making valuation up to the mark.

Factors that led to UpGrad’s Valuation 

Quality content – UpGrad’s commitment to providing high-quality educational content in collaboration with industry experts and prestigious universities has been a cornerstone of its success. Learners receive not just information but practical skills that are in demand in the job market. 

Technological innovation – The company has harnessed cutting-edge technology to create an engaging and immersive learning experience. Features like live classes, interactive sessions, and personalized mentorship have set UpGrad apart in the EdTech space.

Global reach –

UpGrad global reach and courses

UpGrad’s expansion beyond its Indian roots to serve a global audience has played a pivotal role in boosting its valuation. It is no longer just an Indian EdTech company; it’s a global education powerhouse.

Industry partnerships – Collaborations with top universities, institutions, and industry leaders have elevated UpGrad’s offerings, ensuring that its programs  are not only academically rigorous but also aligned with industry needs. 

UpGrad’s Funding & Shareholders

In the dynamic realm of education technology, UpGrad has carved a distinctive path, redefining the boundaries of online learning. Beyond its innovative approach to education, UpGrad’s journey is illuminated by a fascinating narrative of funding rounds that have fueled its meteoric rise. 

UpGrad’s journey is punctuated by a series of funding rounds that mirror its exceptional growth and impact. UpGrad raised its first external funding round in April 2021, led by Temasek.

August 12,2020Debt financing Rs. 50 crore360 ONE Asset
April 14, 2021Venture roundRs. 1.93 croreUnilazer Ventures
April 26, 2021Venture roundsRs. 12 crore Temasek Holdings
August 9, 2021Venture roundRs. 6.5 croreIIFL Finance, International Finance Corporation 
June 15, 2022Venture roundRs. 22.5 crore
August 8, 2022Venture round Rs. 1640 croreETS Global
March 29, 2022Venture round Rs. 300 croreRonnie Screwvala
Funding insights of UpGrad

As of March 29. 2023, UpGrad reportedly raised a whopping amount of $668.2 million in funding over 7 rounds.  The latest investors in UpGrad were Temasek holdings and Ronnie Screwvala. UpGrad consists of around 14 organizations in their network.


UpGrad, the prominent Indian EdTech company boasts a diverse and influential group of shareholders who have not only invested in the company but also played a pivotal role in its growth and success. The founders of the company too hold shares along with other investors.

Ronnie Screwvala – Co-founder of UpGrad, Ronnie Screwvala, is not just a shareholder but also a driving force behind the company’s vision. His extensive experience in the media and entertainment industry, as well as his entrepreneurial acumen, has been invaluable in UpGrad’s journey.

Mayank Kumar – Another co-founder, Mayank, another shareholder along with other co-founders. His leadership and dedication have been instrumental in shaping the company’s growth and its innovative approach to online education. 

Temasek – Temasek, a Singapore based investment company, led a significant funding round that elevated UpGrad’s valuation to unicorn status. Their involvement signifies the global potential of the Indian EdTech sector and has expanded UpGrad’s horizons.

UpGrad shareholders

Venture Capital Firms – UpGrad has garnered investment from a range of venture capital firms, including some of India’s most prominent ones. These forms have recognized the transformative potential of UpGrad’s mission and have provided both financial backing and strategic guidance. 

Individual Investors – UpGrad’s investor base also includes individual investors who are industry luminaries, thought leaders, and experts in various fields. Their contributions go beyond capital; they bring insights, networks, and mentorships to the table.


UpGrad’s journey from a startup to a billion-dollar EdTech unicorn is a remarkable tale of innovation, dedication, and strategic funding. Its valuation and shareholder base reflect not only the company’s financial success but also its commitment to providing quality education in an ever-changing world. 

Offers a platform for diverse range of courses.

UpGrad different courses

As UpGrad continues to evolve and expand its reach, it serves as an inspiring example of how the fusion of education and technology can transform their lives and industries. With its visionary leadership, diverse shareholders, and a valuation that speaks volumes, UpGrad is poised to remain a key player in the dynamic EdTech landscape for years to come.

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Published By: Aashita Singh
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