upGrad will recruit so many thousand people in the next three months, the company also hopes for funding soon

upGrad to hire 3,000 people: By August this year, the company will increase its workforce from about 6,500 to 7,000.

Upgrade currently employs about 4,000 people. (Photo: Symbolic)

upGrad to hire 3,000 people: Amidst the announcement of layoffs in several companies in the education-technology sector, UpGrad plans to recruit around 3,000 people in the next three months. With this, the company is also expected to get new funding soon. Upgrade's chairman and co-founder Ronnie Screwvala told PTI that the company, which started five years ago, currently employs about 4,000 people. By August this year, the company will increase its workforce from about 6,500 to 7,000.

Looking for the next round of funding

Screwvala, who holds 60 per cent stake in Upgrade, said the company is looking for the next round of funding and the process will be completed very soon. He said that the company has targeted an income of $ 500 million for the current financial year against the income of $ 250 to 280 million in the last financial year. According to a report, the company had crossed the one billion dollar valuation mark in the funding round only last year.

This statement from Upgrade comes at a time when startups in the education-technology sector like Unacademy, Frontero and Vedantu have announced layoffs of many of their employees.