Gaurav Munjal steps down as Unacademy CEO, Akhilendra Kumar to take charge

Unacademy co-founder Gaurav Munjal is stepping down as CEO to become executive chairman. Akhilendra Kumar will take over as the CEO.

The leadership change comes two months after upGrad completed its acquisition of Unacademy for just over $200 million.

In a LinkedIn post, Munjal said, “To be clear, I’m not going anywhere. I’ll stay fully involved in operations every day, work alongside Akhilendra and help with the upGrad IPO.”

Kumar’s appointment is an internal elevation at Unacademy. Between 2022 and 2025, he has progressed through the roles of AVP - Business, VP - Business, and Chief Business Officer. He was previously at OYO, with operational and supply-network roles.

Crediting the employees and educators on the platform, Kumar said, “Everything Unacademy has built is because of our Employees and Educators, who show up for learners every day.” He said the focus would remain on learner outcomes and a sustainable business.

Unacademy began as a YouTube channel in 2010 and became an edtech platform in 2015. It expanded rapidly during the pandemic, when demand for online learning surged. However, the reopening of classrooms and weakening online demand forced cost-cutting and restructuring at the company. 

In September, upGrad completed an all-stock acquisition of Unacademy, which valued the company at about Rs 1,955 crore, roughly 94% below its peak in 2021.

The Competition Commission of India approved the combination in July. The deal brings Unacademy’s test-preparation, creator and language-learning businesses together with upGrad’s higher education, study-abroad, careers and corporate-skilling operations.

Munjal’s reference to upGrad's IPO (initial public offering) has wider significance. Under Ronnie Screwvala’s leadership, upGrad is working towards a planned listing in 2027, as it stitches together a larger, more diversified edtech business.

In FY26, upGrad’s consolidated revenue from operations rose to Rs 1,687 crore and its EBITDA rose more than eightfold to Rs 123 crore. Its consolidated net loss narrowed to about Rs 131 crore in the fiscal.

The edtech sector at large is also seeing a reset. According to Tracxn data, edtech funding in the first eight months of 2026 was about 95% below its 2021 peak, while funded rounds dropped from 368 to 36. The sector recorded 94 acquisitions and seven public listings between 2021 and 2026, including PhysicsWallah's listing in November 2025 following a Rs 3,480 crore IPO.

Meanwhile, government supervision in the sector is increasing. Central guidelines have called for transparency on coaching fees, courses and facilities, while the consumer regulator has warned institutes from making misleading success claims and guarantees.

Edited by Swetha Kannan