UpGrad, founded by Ronnie Screwvala, has acquired a controlling stake in Internshala in a deal largely structured as a stock swap.
While the companies did not disclose financial terms, media reports indicate the transaction values Internshala at around Rs 100 crore. About 90 percent of the consideration was structured as a stock swap. Investec served as the exclusive financial adviser to Internshala.
Integrating Education, Skilling, and Employment
Through this acquisition, upGrad aims to connect learning, training, and employment into a unified career ecosystem.
Learners enrolled in upGrad’s programs will gain access to internship and job opportunities listed on Internshala. At the same time, users entering through Internshala can transition into structured certification and skilling programs offered by upGrad.
The strategy addresses a long-standing gap in India’s education landscape, where academic training and job placement often operate in isolation.
Chirag Samdaria, Head of Corporate Strategy and Growth at upGrad, said the acquisition strengthens the earliest stage of a learner’s career journey, where intent is high, and employment outcomes matter most.
Internshala’s Scale and Reach
Founded in 2010, Internshala has built a base of more than 34 million registered users and over 450,000 employers. The platform sees around 3 million active applicants each year.
More than 40 percent of its users come from Tier II and Tier III cities, reflecting its reach beyond major metropolitan hubs. The company operates at a revenue base of approximately Rs 45 crore.
upGrad plans to accelerate product innovation, introduce AI-led talent matching, and expand enterprise hiring models. It aims to scale Internshala’s revenue to Rs 100 crore and beyond within 18 to 24 months.
Enterprise Focus and Brand Continuity
Internshala will continue to operate as an independent brand under its founder and CEO, Sarvesh Agrawal. The Gurugram-based company will leverage upGrad’s technology infrastructure and corporate learning partnerships to expand its offerings.
The platform is expected to gradually shift toward a stronger enterprise-focused hiring model, supported by upGrad’s corporate skilling and learning and development relationships.
Agrawal described the deal as a natural alignment between learning and opportunity. He said the partnership will enable Internshala to scale its impact by preparing candidates with job-ready skills and offering companies pre-trained talent at scale.
upGrad’s Broader Portfolio
Founded in 2015, upGrad delivers online and hybrid programs across its B2C portfolio. It partners with Indian and global universities to offer diplomas, master’s degrees, and executive doctorates, with degrees conferred by partner institutions.
Beyond higher education, the company runs an enterprise skilling division and provides recruitment and staffing services. The Internshala acquisition extends this ecosystem further upstream into internships and entry-level employment.
By linking structured education with verified job opportunities, upGrad positions itself as a full-stack career platform rather than a standalone learning provider.
UpGrad co-founder Ronnie Screwvala
