upGrad to acquire Unacademy in a ₹2,055 crore all-stock deal

upGrad, the higher education learning platform, announced the signing of a definitive term sheet to acquire Unacademy in a 100% all-stock transaction valued at ₹2,055 crore. The deal, finalised in March 2026, marks one of the most significant consolidation moves in the history of India’s edtech sector. The acquisition unites two pioneering forces in Indian education technology – combining upGrad’s robust B2B enterprise learning and global education capabilities with Unacademy’s strong brand recognition and consumer learning ecosystem.

Ronnie Screwvala, Co-Founder, upGrad, said, “This acquisition is a defining moment for India’s edtech industry. Together, upGrad and Unacademy will create a stronger, more resilient platform catering to learners at every stage – from test preparation to career advancement and enterprise upskilling. We are building the future of learning, together.”

As part of the agreement, Unacademy’s co-founder and CEO, Gaurav Munjal, will continue to lead the platform post-acquisition.

Unacademy’s cash reserves of over $100 million (₹900–950 crore) are expected to strengthen upGrad’s balance sheet upon deal closure, subject to approval from the Competition Commission of India (CCI). Alongside, upGrad is in advanced discussions to raise approximately ₹375 crores from existing investors, including Temasek, which holds stakes in both companies.

The combined entity will focus on enterprise (B2B) learning, global education markets, and AI-driven solutions, signaling a decisive shift from the high-growth, consumer-only models of the pandemic-era edtech boom.