Ronnie Screwvala Leads upGrad’s Internal Funding Round
Indian edtech leader upGrad has secured ₹361 crore (approximately $38 million) in a fresh financing round, valuing the company at $1.7 billion (₹16,500 crore). The funding round was led by co-founder and chairman Ronnie Screwvala, who contributed ₹300 crore, with additional participation from existing institutional backers Temasek, IFC, and 360 ONE.
The valuation details were disclosed in an independent report by Incwert Advisory, prepared in connection with upGrad’s proposed acquisition of Unacademy. The acquisition, which is currently undergoing regulatory review by the Competition Commission of India (CCI), represents a major consolidation step in the domestic test-preparation and professional training sectors.
Improved Financial Performance Supports Valuation
The funding round follows a positive shift in upGrad’s financial performance. According to the valuation report, the company achieved provisional profitability in the first 11 months of FY26, showing a recovery from the losses recorded in the previous fiscal year. This improvement in unit economics has helped upGrad maintain its unicorn valuation while peers in the edtech sector face downward valuation revisions.
