Ronnie Screwvala-led edtech firm upGrad has acquired a 90% stake in internship and job-search platform Internshala through a share swap deal.
Though the financial terms were not disclosed, sources familiar with the deal told MediaNama that it valued Internshala at approximately Rs 100 crore.
In a statement, upGrad said it will invest additional resources to accelerate product innovation, AI-led talent matching, and enterprise hiring models, with the aim of scaling Internshala’s revenue from Rs 45 crore to Rs 100 crore.
What Does Internshala Bring to the Table?
Founded in 2010, Internshala is a career-tech platform that helps college students and freshers secure internships and entry-level jobs. It has over 34 million registered users and 450,000 employers, with about three million active applicants each year. According to the company, more than 40% of its users are from Tier II and III markets in India.
While Internshala will continue to operate as an independent entity under its Founder and Chief Executive Officer (CEO), Sarvesh Agrawal, the acquisition will allow upGrad to expand its offerings.
upGrad offers skilling certifications, university-led degrees, and study abroad programmes across its Business-to-Consumer (B2C) and enterprise verticals. Post-acquisition, the Mumbai-based firm will be able to offer skilling courses, degrees, and internships on a single, unified platform.
“Education and employment in India have operated in silos for too long. This acquisition allows us to strengthen the earliest layer of the career journey, where intent is highest and outcomes can be meaningful,” said Chirag Samdaria, Head of Corporate Strategy & Growth at upGrad.
Meanwhile, Agrawal said, “Joining hands with upGrad will allow us to amplify our impact by skilling millions of candidates, offering pre-trained talent to companies at scale, and together becoming the default launchpad for every graduate’s career.”
upGrad Eyeing Multiple Acquisitions
The development comes at a time when upGrad is pursuing an aggressive multi-acquisition strategy to drive growth, expand its portfolio, and enter new markets. In November 2025, the company reportedly submitted an Expression of Interest (EoI) to bid for BYJU’S parent company, Think & Learn Private Limited, which is currently undergoing insolvency proceedings. upGrad was said to be evaluating all of BYJU’S assets, including the K-12 business, Aakash Educational Services, and Great Learning.
An Expression of Interest (EoI) is an official document that indicates a company’s or individual’s interest in participating in a professional opportunity, in this case, the takeover of Think & Learn.
In January this year, upGrad also pulled out of talks to acquire Unacademy due to differing valuation expectations between the two companies.
On the financial front, upGrad continues to be loss-making. The edtech firm reported a net loss of Rs 273.3 crore in the…
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