India Gets Its Second Edtech Unicorn As Unacademy Joins The Prestigious Club Founded in 2015, Unacademy started as a YouTube channel before launching its own platform and a mobile app

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unacademy Co-Founders Roman Saini, Hemesh Singh and Gaurav Munjal (L-R)

In yet another instance of an Indian edtech startup reaching new highs, Bangalore-based Unacademy entered the coveted Unicorn Club after raising $150 million in a round led by Softbank. The fresh funding valued the edtech player at $1.45 billion. Existing investors such as General Atlantic, Sequoia India, Nexus, Facebook and Blue, too, participated in the round.

Confirming the development in a tweet, Gaurav Munjal, co-founder and chief executive officer of Unacademy, wrote: "Our goal always has been to democratise knowledge and make it more affordable and accessible by getting the best experts of the world to help everyone achieve their goals."

He thanked his team members, educators, and learners for supporting them to build something "iconic'.

The startup has also become the official partner of the popular T20 tournament Indian Premier League for three seasons.

The startup became Unicorn almost two years after its rival Byju's led by Byju Raveendran joined the prestigious club. Byju's is currently the most valued edtech startup in the world with an estimated valuation of $10.5 billion after it raised a fresh round of funding in June.

Founded in 2015, Unacademy started as a YouTube channel before launching its own platform and a mobile app. The platform currently has more than 1 million videos from over 10,000 educators across the country. Its app now has over 10 million downloads on the Google Play Store.

Unacademy in the past couple of months recorded a 100 per cent increase in its paid subscriber base. The company witnessed a 100 per cent steep growth in the daily average watch time across platforms.

In 2018, Unacademy acquired WiFiStudy, an online learning platform on YouTube for an undisclosed amount and said that both were cash-and-stock deals.

Earlier this year, the Bengaluru-based firm bagged $110 million from Facebook and General Atlantic and others, and later went on to acquire Kreatryx and CodeChef as part of its inorganic growth strategy.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs


International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

News and Trends

Early Stage Venture Fund Equirus InnovateX Fund Announces its First Close

With the goal of encouraging innovation in the tech startup ecosystem, EIF aims to make at least two investments in companies over the next month after securing the first closing.

News and Trends

Lending Dominated Fintech M&As In 2023: Report

The other two sub-sectors with high M&A frequency were Payments and Wealthtech, according to the report by GrowthPal

Business News

I Tried 3 AI Headshot Generators and There Was a Clear Winner

Aragon AI, Momo, and FastShot AI all generate headshots using AI, but which one actually works for LinkedIn?


SMART Goals May Be Holding You Back — Try This Effective Goal-Setting Technique Instead

Everyone suggests SMART goals, but this framework is flawed. Learn why and how to create goals properly — ones that you can actually achieve.