Bengaluru: Edtech company upGrad has launched an AI incubator with an initial investment of Rs 100 crore to support early-stage artificial intelligence (AI) startups in India. The company has already invested in Bengaluru-based startup ZuAI but has not disclosed the financial details of the deal.
Focus on AI Innovation
The upGrad AI Incubator aims to fund and support five to six startups in the coming months, providing them with infrastructure, resources, and seed capital. The initiative is part of upGrad’s strategy to expand its role in AI-driven product development and skilling.
This move comes at a time when AI adoption in India is accelerating, with both private companies and government entities focusing on AI-led innovations. Recently, the Maharashtra government partnered with upGrad to establish AI excellence centers across the state, committing an initial investment of Rs 2,150 crore.
Leadership Changes and Expansion
In addition to its AI push, upGrad has been restructuring its leadership. Earlier this month, the company appointed Neeraj Gera, former chief operating officer of Dentsu, as its India head for enterprise delivery. It also brought in former Amazon executive Neha Prasad Mullick as vice president for enterprise sales in North America.
Founded in 2015 by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli, upGrad provides online and hybrid skilling programs, diplomas, and executive education in partnership with global universities. It also offers corporate training and recruitment services.
With increasing AI investments from both government and private players, India’s AI startup ecosystem is witnessing significant growth.
