Unacademy has raised $ 440 million in a new round of funding as the Indian online learning startup seeks to expand into several additional categories.
Temasek led the new funding round for the Bangalore-based startup, while Mirae Asset and existing investors such as SoftBank Vision Fund 2, General Atlantic, Tiger Global, as well as Zomato co-founder and CEO Deepinder Goyal and Oyo founder Ritesh Agarwal, participated.
The new round values the six-year-old startup at $ 3.44 billion, up from $ 2 billion in November last year. According to the insight platform Tracxn, the new rounds bring the previous increase from Unacademy to 880 million US dollars.
The online learning platform, which started its journey on YouTube and still uses Google’s video platform to bring faculty on board, is helping students prepare for competitive college entrance exams as well as graduate courses.
In the app, students watch live lessons from educators and later attend sessions to discuss topics in more detail. Over the past few years, the startup has conducted multiple online interviews with high profile figures like Indian politician Shashi Tharoor on a range of topics, which has expanded its appeal beyond its student base.
Unacademy has accumulated over 5 million monthly active users in over 10,000 cities in India.
Unacademy co-founder and CEO Gaurav Munjal said the startup will use the fresh capital to expand its betting into new categories like jobs and hiring.
Relevel “gives people a way to find their dream job regardless of their educational background, while Graphy” empowers creators to build their online businesses to sell digital goods including NFTs, “he said in a tweet.
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