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Tech Giants invests in Indian startup Unacademy

Indian education platform Unacademy bags a massive Series E Funding Round amounting to $110 million.

In its recently held Series E funding round, Indian education startup Unacademy amassed a massive $110 million new capital. The said round was led by the giants General Atlantic and Facebook.

Unacademy is India’s largest education platform that provides content for major competitive examinations as well as offers short lectures in the form of videos on different subjects that can be accessed for free.

Furthermore, Unacademy is partnering with the brightest minds and have courses on every topic in multiple languages is Unacademy’s vision. It allows aspiring students to better prepare for their competitive examinations and promote self-learning.

“We are seeing great learning outcomes through our subscription where learners can take live classes by these educators. We now have more than 90,000 active subscribers. We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us,” said Gaurav Munjal, Co-founder of Unacademy.

Unacademy was originally created in 2010 via YouTube channel and was officially launched in 2015. In 2018, the company reported a raise of US$21 million in Series C, and in 2019, Unacademy launched its subscription plan for different exam types.

The new capital brings the ed-tech company a total of $510 million valuations. “Facebook is an ally for India’s economic growth and social development, and we are excited about India and it’s rapidly rising Internet ecosystem,” said Ajit Mohan, Vice President and Managing Director at Facebook India.

“With this investment in Unacademy, we are reinforcing our commitment to the Indian startup ecosystem as well as investing in a company that is transforming learning in India. We love that the company is fundamentally democratizing education and driving innovation in new learning models,” added Mohan.

Existing investors like Sequoia India, Nexus Ventures Partners, Steadview Capital, and Blume Ventures also participated in the funding round. Additionally, Kalyan Krishnamurthy, CEO of Flipkart, and Sujeet Kumar, co-founder of Udaan has joined the round.

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