Temasek-backed upGrad plans to launch corporate upskilling and learning and development advisory services as businesses seek to keep employees up to date with rapidly evolving skill requirements.
According to two industry executives aware of the development, the edtech company co-founded by Ronnie Screwvala, who is also its chairman, is pivoting towards business-to-business (B2B) services, broadening its portfolio ahead of a planned public listing.
"Corporates are now doubling down on upskilling, learning and development programs. The B2B venture will have a team of consultants, tech experts who will offer these services to the business houses," said the first of the two executives cited earlier, both speaking on condition of anonymity.
Although Mint could not confirm when the venture would formally be launched, the company has begun hiring senior executives for the new team.
"upGrad's B2B enterprise business is growing annually at a 40% CAGR (compounded annual growth rate) and since it already does deep skilling, workforce development, AI (artificial intelligence) and a placements business, it is looking to add advisory," the second executive cited earlier said. According to him, the company is eyeing a ₹1,000 crore revenue from its enterprise business over the next two years.
Queries emailed to upGrad remained unanswered till press time.
Founded in 2015, upGrad offers online upskilling programs in AI, management, and machine learning, among others. It also offers ‘study abroad’ programmes that allow students to pursue degrees through the edtech firm’s partnerships with universities in Germany, Australia, Canada and other countries. The company also offers individual certification programmes, including courses in leadership and some Microsoft certifications.
upGrad acquired education platform and test preparation firm Unacademy earlier this year for $245 million, seeking to expand aggressively ahead of its planned stock-market listing in 2027. In December 2025, Mint reported that upGrad is deepening its push on its international business as well. The edtech firm's rival PhysicsWallah listed in November last year and currently commands a market capitalisation of ₹36,841.26 crore as on Tuesday.
While upGrad has turned operationally profitable, posting a gross revenue of ₹1,650 crore in fiscal year 2025 (FY25), the company has faced challenges in scaling its business, Mint had reported earlier. upGrad Enterprise, the B2B business of the company, sells skilling and training programmes to companies, helping them address gaps in their workforce through courses tailored to business needs.
But analysts caution it will not be an easy segment for upGrad to crack.
"B2B is a more established market as the contracts are usually longer-term, unlike B2C (business-to-customer), where the churn is quicker and acquisition costs higher. The new venture will compete with established players like Eruditus, Simplilearn, LinkedIn, etc. and even universities that have tie-ups with corporates on learning and development and upskilling programs. The team can include seniors from industry and tech firms who can create upskilling programs for corporation," said Narayanan Ramaswamy, partner and national leader of the education and skill development practice at KPMG in India.
Eruditus offers executive education, Simplilearn has online courses while LinkedIn is a social media platform which has career development programs as well.
Another senior analyst who tracks the education industry noted that companies often have tie-ups with leading management institutes for learning and development programmes. This means that upGrad will need to offer a price point and quality compelling enough for companies to choose its services.
upGrad has raised over $760 million across multiple funding rounds since since inception, reaching a valuation of approximately $1.7 billion as of May this year. In May, the company raised ₹360 crore from existing backers. Some of its marquee investors include International Finance Corporation and 360 One.