UpGrad is an edtech startup that provides an online learning and skilling platform. The platform offering educational and skilling courses announced a gross revenue of Rs 1,876 crore in FY24. The startup provides live coaching classes with UG/PG, competitive, and other professional courses to students. These courses and subscription services are the company’s primary source of revenue. The startup uses advanced technologies to offer a seamless learning experience.
The firm also earns income through both online and offline coaching centers bringing the total revenue to Rs 1,547 crore in this financial year. The startup provides hybrid skilling programs, boot camps, and certifications for several courses, including doctorate programs and diplomas, in partnership with top universities. UpGrad has secured over 320 million USD across multiple funding rounds since its inception, including $60 million raised during its fresh funding round led by Temasek and other investors at a post-money valuation of 2.25 billion USD.
The Mumbai-based startup provides courses for academic subjects, skill learning, competitive exam preparation, and more. The online platform uses advanced technologies to offer quality content and the best learning experience. This edtech startup provides users with various learning courses. Marketing, advertisement, and other expenses decreased compared to last fiscal year. The delivery cost also decreased and stood at Rs 340 crore in FY24. However, the product and technology expenses increased to Rs 77 crore in the same duration.
UpGrad posted a 50 percent growth compared to last fiscal year with its partners from industries including automobiles, GCCs, BFSI, manufacturing, and more. The firm offers an online platform to connect learners with different fields by providing a wide range of courses. The startup data intelligence platform, thekredible’s report shows that the existing investor, Temasek is the firm’s largest external stakeholder with 20.5 percent stake owned. UpGrad’s co-founder, family, and chairperson follow closely with 25 percent of the firm’s stake.
The company aims to improve its platform and offer innovative learning solutions to strengthen its position in the edtech market. The startup reported that the application has over 55,000 career transitions for this year. The firm controlled its losses by 50.6 percent to Rs 560 Crore for this financial year. The employee benefit cost increased and crossed Rs 711 crore in FY24. The EBITDA loss also improved and decreased by 50 percent to Rs 285 crore in FY24. UpGrad faces competition from other online skill and learning service providers such as Eruditus.
Conclusion :
The skilling and learning platform offering edtech startup UpGrad announced its gross revenue of Rs 1,876 crore in FY24. This online platform provides several learning solutions including test preparations, UG/PG courses, skill learning, and academic subjects. These online courses, certificates, and subscription services are the firm’s primary sources of revenue.
The loss also decreased by 50.6 percent to Rs 560 crore in FY24. The AI and technology courses were 20 percent of the total revenue for this fiscal year. The company has secured over 320 million USD across multiple funding rounds to date.
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