Startup Atlas · Corporate Training & Workforce Development

upGrad Unicorn

UpGrad Education Private Limited ● Mumbai, Maharashtra ● Founded 2015 ● upgrad.com ↗
Ronnie Screwvala · Co-Founder & Chairperson Mayank Kumar · Co-Founder (stepped down as Managing Director in Oct 2024; remains co-founder/shareholder) Phalgun Kompalli · Co-Founder & Head of Operations Ravijot Chugh · Co-Founder & Head of Product/Career Services
$479.5 MnTotal funding (tracked)
6Funding rounds
20 May 2026Last round
7,649Team size (sourced)

upGrad: Financial Breakdown

Figures below are FY25, consolidated basis, compiled from filings and disclosures — every year cited to its source.

INR 1,569.3 Cr revenue from operationsTotal revenue · +8.9% YoY
INR 1,942.6 CrTotal expenses
INR 65.4 Cr EBITDA loss (per Entrackr's July 2026 valuation-round report, the same article that matches the already-known FY25 vs 11-month-FY26 comparison). Note: an earlier Entrackr fintrac…EBITDA
INR 273.7 Cr net loss (matches the figure already on file)Net loss · loss narrowed 49.5% YoY

Revenue by fiscal year

050100150200$MINR 162.34 Cr (operating income): $19.3M19FY20INR 302 Cr operating income (Inc42's later FY22 comparison cites a slightly higher consolidated total revenue of INR 327.1 Cr for FY21, likely including other income): $36M36FY21INR 679.2 Cr (consolidated; standalone figure not separately given, but Business Standard separately reported consolidated revenue of ~INR 692 Cr for FY22): $80.9M81FY22INR 1,194 Cr adjusted/Ind-AS revenue (PR Newswire separately reports gross revenue of INR 1,530 Cr for FY23): $142.1M142FY23INR 1,487.6 Cr operating revenue (Entrackr separately reports gross revenue of INR 1,876 Cr and Ind-AS total income of INR 1,547 Cr for FY24): $177.1M177FY24INR 1,569.3 Cr revenue from operations: $188.9M189FY25

Net profit / loss by fiscal year

-150-100-500$MINR 79 Cr net loss: $-9.4M-9.4FY20INR 211.13 Cr net loss (consolidated); Inc42 separately reports a standalone net loss of INR 202.4 Cr for FY21: $-25.1M-25FY21INR 626.6 Cr net loss (consolidated); Inc42 separately reports a standalone net loss of INR 568.6 Cr for FY22: $-74.6M-75FY22INR 1,142 Cr net loss (PAT); Startup Story separately cites INR 1,141.5 Cr: $-136M-136FY23INR 559.8 Cr net loss: $-66.6M-67FY24INR 273.7 Cr net loss (matches the figure already on file): $-32.9M-33FY25

Bars below the line are a net loss for that year.

Fiscal year Revenue Total expenses EBITDA Net profit / loss Source
FY25 INR 1,569.3 Cr revenue from operations INR 1,942.6 Cr INR 65.4 Cr EBITDA loss (per Entrackr's July 2026 valuation-round report, the same article that matches the already-known FY25 vs 11-month-FY26 comparison). Note: an earlier Entrackr fintrac… INR 273.7 Cr net loss (matches the figure already on file) source
FY24 INR 1,487.6 Cr operating revenue (Entrackr separately reports gross revenue of INR 1,876 Cr and Ind-AS total income of INR 1,547 Cr for FY24) INR 2,112.3 Cr INR 285 Cr Ind-AS EBITDA loss (Entrackr separately cites an 'adjusted' EBITDA loss excluding one-time costs of INR 202 Cr for FY24) INR 559.8 Cr net loss source
FY23 INR 1,194 Cr adjusted/Ind-AS revenue (PR Newswire separately reports gross revenue of INR 1,530 Cr for FY23) — INR 558 Cr EBITDA/adjusted-operating-cash loss INR 1,142 Cr net loss (PAT); Startup Story separately cites INR 1,141.5 Cr source
FY22 INR 679.2 Cr (consolidated; standalone figure not separately given, but Business Standard separately reported consolidated revenue of ~INR 692 Cr for FY22) INR 1,300.6 Cr (consolidated) INR 572 Cr EBITDA loss, as cited by PR Newswire's FY23 RoC-filing release as the prior-year (FY22) comparison figure INR 626.6 Cr net loss (consolidated); Inc42 separately reports a standalone net loss of INR 568.6 Cr for FY22 source
FY21 INR 302 Cr operating income (Inc42's later FY22 comparison cites a slightly higher consolidated total revenue of INR 327.1 Cr for FY21, likely including other income) INR 513.7-514 Cr — INR 211.13 Cr net loss (consolidated); Inc42 separately reports a standalone net loss of INR 202.4 Cr for FY21 source
FY20 INR 162.34 Cr (operating income) INR 241.5 Cr — INR 79 Cr net loss source

Nothing here is blurred or gated — every figure Atlas has is shown in full, free.

Sources & corrections. Every fact on this page is compiled from cited public sources — follow the "source" links beside each entry. Profile sources: techcrunch.com · Last verified 7 Sep 2026. · Report a correction