Ronnie Screwvala's upGrad acquires majority stake internship platform Internshala

Ronnie Screwvala-founded edtech major upGrad has acquired early-talent marketplace Internshala in a transaction structured largely as a stock swap, as the skilling major looks to integrate education, training and employment into a single career platform.

While the financial terms were not disclosed, media reports indicate that the deal, in which 90 percent of the consideration was structured as a stock swap, values Internshala at around Rs 100 crore.

Investec acted as the exclusive financial adviser to Internshala.

The acquisition is aimed at strengthening upGrad’s presence across the full career lifecycle, from skilling and certifications to internships and entry-level employment. With this integration, learners on upGrad’s platform will be able to access internships and job listings hosted on Internshala, while new users entering through Internshala can be funnelled into structured skilling programmes.

Founded in 2010, Internshala has built a community of more than 34 million registered users and 450,000 employers. The platform reports roughly 3 million active applicants annually. More than 40 percent of its users come from Tier II and Tier III cities, underscoring its reach beyond metropolitan centres. The company currently operates at a revenue base of around Rs 45 crore.

upGrad said it will invest additional resources to accelerate product innovation, AI-led talent matching and enterprise hiring models. It has set a target to scale Internshala’s revenue to Rs 100 crore and beyond over the next 18 to 24 months. The platform is also expected to shift towards a more enterprise-focused model by leveraging upGrad’s corporate skilling and learning and development relationships.

“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. By bridging work opportunities with structured skilling, we are building a more aligned talent ecosystem for both learners and employers,” said Chirag Samdaria, Head – Corporate Strategy and Growth at upGrad.

Internshala will continue to operate as an independent brand under its Founder and Chief Executive Officer, Sarvesh Agrawal. The Gurugram-based company plans to leverage upGrad’s technology infrastructure and scale to expand its offerings and user base.

“This is a very natural partnership where learning meets opportunity. In the last 15 years, Internshala has democratized career start for students. Joining hands with upGrad will allow us to amplify our impact by skilling millions of candidates, offer pre-trained talent to companies at scale, and together become the default launchpad for every graduate's career,” Agrawal said.

Founded in 2015, upGrad offers online and hybrid skilling programmes under its B2C portfolio and partners with Indian and global universities to deliver Diploma, Master’s and Executive Doctorates, with degrees awarded by the respective universities. It also runs an enterprise skilling division and provides recruitment and staffing services.