upGrad has acquired Internshala in a transaction structured largely as a stock swap, with 90% of the deal completed through equity. The financial terms were not disclosed.
The move expands upGrad’s footprint across the entire career journey by integrating education, skill development and employment opportunities within a unified ecosystem.
Established in 2010, Internshala has grown to a network of more than 34 million registered students and 450,000 employers. The platform sees nearly 3 million active applicants each year and generates the majority of its traffic organically. Notably, over 40% of its users come from Tier 2 and Tier 3 cities, highlighting its strong reach beyond metro markets.
Through this integration, upGrad aims to create a more seamless pathway for learners — from discovering internships and building job-ready skills to securing full-time employment. The company plans to channel additional investments into product development, AI-driven talent matching and enterprise hiring solutions, with an ambition to scale Internshala’s revenue from its current INR 45 crore base to INR 100 crore and beyond.
The acquisition underscores upGrad’s broader strategy to strengthen India’s skilling ecosystem by aligning education outcomes more closely with industry requirements.
Investec served as the exclusive financial advisor to Internshala for the transaction.
Chirag Samdaria, Head – Corporate Strategy and Drowth at upGrad, said, “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.”
Sarvesh Agrawal, founder and CEO, Internshala, added, “This is a very natural partnership where learning meets opportunity. In the last 15 years, Internshala has democratised 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”
Read more: UpGrad Welcomes Amitabh Kant To Its Board As Independent Non-Executive Director
