Ankur Dhawan, Chief Product and Technology Officer at edtech major UpGrad, has resigned from the company, Moneycontrol has learnt. His exit comes at a time when the Ronnie Screwvala-led firm is in advanced talks to acquire Unacademy in a deal valued at around $400 million.
Dhawan, whose departure has not yet been announced publicly, had been with UpGrad for over five years and most recently oversaw product development, technology, and the company’s study abroad business.
Queries sent to UpGrad did not elicit an immediate response.
Who is Ankur Dhawan?
Dhawan joined UpGrad in 2020 to head its study abroad vertical, before being elevated to Chief Product and Technology Officer in 2024. In that role, he led the integration of UpGrad’s various learning platforms, focused on improving user experience and driving the company’s international learner base.
Prior to joining UpGrad, Dhawan served as Chief Operating Officer at Buddy4Study and held senior leadership roles at PropTiger, including Chief Investment Officer. Earlier in his career, he worked with Pine Labs and began his professional journey at the Boston Consulting Group (BCG), where he was a consultant across industries.
Why is his exit significant?
Dhawan’s exit coincides with UpGrad’s ongoing discussions to acquire Unacademy’s test-prep business, as Moneycontrol reported earlier this week. The proposed transaction, still under negotiation, could see Unacademy’s AirLearn spun out as a separate entity, while the core test-prep vertical — including its offline centres — moves to UpGrad.
Unacademy’s valuation has fallen sharply — from $3.44 billion in 2021, when Temasek led a $440 million funding round, to a potential $400 million deal value now. Temasek is also a key investor in UpGrad, having participated in multiple funding rounds since 2021.
How does this fit into UpGrad’s broader strategy?
Dhawan’s resignation comes at a critical time for UpGrad, which has been pursuing an acquisition-led expansion strategy to strengthen its position across higher education, skilling, and test preparation. Over the past three years, the company has acquired firms in content, recruitment, and enterprise learning to widen its portfolio and deepen learner engagement.
The leadership change also underscores a broader phase of realignment within India’s edtech sector, as companies streamline operations, integrate offline networks, and chase profitability amid tighter funding. UpGrad has not yet named a replacement for Dhawan.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
