Mumbai-based edtech unicorn upGrad has appointed former chief executive officer and managing director of Tech Mahindra, C P Gurnani, to its board of directors.
In the new role, Gurnani will serve as an independent non-executive director and help the upskilling platform in ramping up its domestic and global operations, the company said in a statement.
He will focus on working with the leadership teams to transform upGrad into a highly export-oriented product, tapping into opportunities in B2B and B2C markets.
Besides, he will also help the edtech major in developing more smart content and individualised learning trajectories for learners from diverse backgrounds and geographies.
During his tenure with Tech Mahindra, Gurnani drove its growth both in terms of operations and innovations. Prior to that, he held leadership roles at HCL Perot JV as founder and CEO.
“At upGrad we have laid a strong and long-term goal of being a lifelong learning partner as we power career success for the global workforce. I am confident that CP’s profound leadership and ability to pre-empt market trends would further enhance our framework and underpin the integrity and efficiency of our business model,” said upGrad’s cofounder and chairperson Ronnie Screwvala.
“It’s interesting to observe how upGrad is reversing the pyramid, empowering millions and addressing the rising demand for upskilling, particularly in times of AI. It is creating a talent pipeline for the world,” Gurnani said.
Founded in 2015 by Screwvala, Mayank Kumar and Phalgun Kompalli, upGrad offers higher education courses and skilling programmes in collaboration with colleges and universities.
The announcement comes a day after upGrad-owned upskilling platform KnowledgeHut’s Subramanyam Reddy stepped down from CEO role.
However, in a statement, an upGrad spokesperson said that Reddy’s employment was mutually terminated on December 5 without any notice period. Reddy’s LinkedIn bio also reflects that he left the company in December 2023.
Meanwhile, the edtech unicorn has appointed former BYJU’S Tuition Centre executive Asheesh Sharma as the new president of short courses and bootcamps at KnowledgeHut. He took charge of the new position on Tuesday (January 2).
From BYJU’S to Unacademy, most Indian edtech players have seen top-level exits as funding winter reigns supreme and government tightens regulatory screws around the industry.
As per Inc42 data, funding for the sector cratered 88% to $283 Mn in 2023, a far cry from $2.4 Bn raised in 2022.
With capital taps running dry, Indian edtech companies have resorted to mass layoffs (14,616 since 2022) and have shelved expansion plans. Some of these companies have even shut shop, while others have focussed their energies more on offline expansion even as growth stagnates in the online segment.
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