Sunday, May 19, 2024
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Arjun Mohan, the CEO of edtech company upGrad, has announced his departure from the company. His decision comes amid pressure on edtech platforms to become profitable and a slowdown in funding rounds.

In a LinkedIn post, Mohan reflected on his three years at upGrad and the company’s efforts to help working professionals upskill. He also acknowledged the ongoing challenges facing the edtech industry, including issues of access, affordability, and quality.

Mohan, who has been involved in the edtech industry since 2008, stated that he is currently in the exploration phase for his next steps in education. His last day of employment will be January 15th.

In the meantime, upGrad continues to make investments to develop tech products. The company invested 30 crore rupees to establish TuringMinds last month. Despite this, the company reported a loss of 626.6 crore rupees in FY22, compared to 211.1 crore rupees in the previous year. However, its revenue reportedly rose 2x in FY22 at 692.2 crore rupees from 327.7 crore rupees in the previous fiscal year.

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