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Edtech startup upGrad has appointed Amitabh Kant, former G20 Sherpa of India and NITI Aayog CEO, as an independent non-executive director on its board.
In a statement, upGrad said that Kant’s global experience will support upGrad’s international expansion plans.
“Amitabh has spent his career shaping some of India’s biggest transformational missions, and that perspective is invaluable as we deepen our global footprint and widen our impact,” said Ronnie Screwvala, cofounder & chairperson of upGrad.
In his tenure, Kant was involved in major government programmes such as Make in India, Startup India, Incredible India and the Delhi-Mumbai Industrial Corridor.
He also served as India’s G20 Sherpa during the country’s presidency. Before that, he was the CEO of NITI Aayog, where he worked on initiatives related to digital governance, sustainability, startups and public-private partnerships.
“I believe India needs new-age skilling, given our demographic advantage. We need two things; how to upskill our people quickly and how to collaborate with good companies – both of which upGrad is doing very well. They are increasing their association with private and public universities, as well as companies, to create a complete pipeline of talent for job readiness and entrepreneurship,” said Kant on his appointment.
Founded in 2015 by Screwvala, Mayank Kumar, Phalgun Kompalli, and Ravijot Chugh, Mumbai-based upGrad offers higher-education and workforce upskilling solutions through a combination of university partnerships, enterprise offerings, multi-campus infrastructure, and AI-driven learning systems.
The startup has scaled its global footprint over the past two years, serving clients across the Middle East, Africa, Southeast Asia, and the US, and partnering with universities in the UK, Europe, Australia, and North America. It competes with Eruditus, Great Learning, and Simplilearn in the upskilling and higher-education space.
upGrad last raised $60 Mn led by Singapore’s Temasek at a flat $2.25 Bn valuation in 2024, following its $1.2 Bn valuation in 2021.
upGrad Eyes Larger Market Share With Acquisitions
To strengthen its position in the edtech space, upGrad is looking at acquisitions. It recently submitted an expression of interest (EoI) for Think & Learn, the bankrupt parent of edtech startup BYJU’S.
“We have filed an EoI in the Think & Learn resolution and liquidation process that includes all their assets, including the K-12 business and Aakash… There are assets in Think & Learn that are in the higher education space as also where young learners/ college graduates aspire to learn more, and we would be focussed on those assets,” Screwvala told ET.
However, he later issued a statement to clarify that upGrad was not interested in the K-12 business.
“upGrad wishes to clarify that it is not in the K-12 sector, nor is our interest there; but there are assets in Think & learn that are in the higher-ed space as also where young learners /college graduates aspire to learn more, and we would be focussed on those assets,” said Screwvala.
Notably, upGrad isn’t the only bidder. Ranjan Pai’s Manipal Education and Medical Group (MEMG) is also among the entities interested in buying Think & Learn.
In addition to this, upGrad was also reportedly considering acquisition of edtech startup Unacademy in an all-stock deal. The deal was expected to value the startup at about $300 Mn to $320 Mn, a 90% drop from Unacademy’s peak valuation of $3.4 Bn in 2021.
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