Ronnie Screwvala-led upGrad eyeing M&As in US and Southeast Asia

The international business is so critical that the firm's other co-founder Phalgun Kompalli, has shifted to the US to lead businesses within the brand there

Ronnie Screwvala-led edtech unicorn upGrad has initiated a M&A (mergers and acquisitions) strategy in negotiations to acquire various companies in markets, such as the US and Southeast Asia. As part of that strategy, upGrad Rekrut, a 100 per cent subsidiary of upGrad, has acquired Wolves India, a recruitment and staffing firm, for an undisclosed amount. It specialises in helping recruit tech talent. 

upGrad is making these moves at a time when the company almost doubled its valuation to $2.25 billion after raising $225 million in fresh funding from investors such as James Murdoch’s Lupa Systems and family offices of Lakshmi Mittal