upGrad’s Acquisition of Unacademy Approved by CCI

upGrad has been granted the nod by the Competition Commission of India (CCI) for its planned acquisition of the edtech unicorn Unacademy. A statement from the competition regulator was released on Tuesday, confirming the approval of specific shareholding in Sorting Hat Technologies Private Limited, which will be merged into upGrad Education Private Limited.

Details of the Acquisition

This approval comes around two months after upGrad had submitted a merger application to the CCI regarding this significant transaction. Earlier in March, an agreement was reached to acquire Unacademy for approximately Rs 2,055 crore, which is around $218 million.

Funding and Valuation

In May, upGrad achieved a valuation of approximately $1.73 billion following a funding round where Rs 361 crore, equivalent to about $38 million, was raised. This funding was spearheaded by co-founder and chairman Ronnie Screwvala, along with existing investors including Temasek, International Finance Corporation (IFC), and 360 ONE Opportunities Fund.

Financial Performance

During the 11-month period ending February 2026, upGrad reported a provisional profit after tax of Rs 38.8 crore, a significant improvement from the loss of Rs 273.7 crore in FY25. Furthermore, the company marked an EBITDA positive outcome of Rs 56.9 crore, turning around from a negative Rs 65.4 crore in the preceding fiscal year, with revenue from operations reaching Rs 1,531.7 crore within this timeframe.

About upGrad and Unacademy

Founded in 2015, upGrad is a prominent platform focused on higher education and skill enhancement, while Unacademy is well-known for its online learning initiatives, primarily in the areas of test preparation and professional education. The consolidation of these two edtech unicorns is poised to create a noteworthy synergy within India’s educational landscape.