UpGrad Acquires Internshala in Stock-Swap Deal
Analysis based on 12 articles · First reported Feb 26, 2026 · Last updated Feb 27, 2026
The acquisition of UpGrad===Internshala by UpGrad is expected to positively impact the edtech and HR markets in India by creating a more integrated platform for education, skilling, and employment. This move could lead to increased competition and innovation in the sector, benefiting both learners and employers.
UpGrad, an integrated skilling platform, has acquired early-talent marketplace UpGrad===Internshala in a 90% stock-swap transaction, valuing UpGrad===Internshala at approximately Rs 100 crore. This acquisition aims to strengthen UpGrad's presence across the full career lifecycle by integrating education, skill development, and employment opportunities into a unified ecosystem. UpGrad===Internshala, founded in 2010 by Sarvesh Agrawal, has over 34 million registered users and 450,000 employers, with a significant user base from Tier 2 and Tier 3 cities in India. UpGrad plans to invest further resources to enhance product capabilities, including AI-led talent matching and enterprise hiring models, with a target to scale UpGrad===Internshala's revenue from Rs 45 crore to Rs 100 crore and beyond. UpGrad===Internshala will continue to operate as an independent brand under Sarvesh Agrawal's leadership, leveraging UpGrad's technology and infrastructure. Investec acted as the exclusive financial advisor to UpGrad===Internshala. This deal is part of UpGrad's aggressive multi-acquisition strategy, though it recently pulled out of talks to acquire Unacademy and reportedly submitted an Expression of Interest for Byju s.
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