Indian EdTech startup Unacademy receives investment

February 20, 2020

Indian EdTech startup Unacademy secures Series E funding in investment round led by FaceBook

Facebook invests in Indian EdTech company
Launched in 2015, Indian EdTech startup Unacademy provides online training for various exams in India such as the JEE (Mains), NEET and UPSC.  It has rapidly grown to become India’s largest learning platform with over 60 exam categories, 14,000+ teachers and video lessons in excess of one million.  Last year it launched its subscription based service which yielded a revenue of $30 million.

Over 300,000 students have used the Unacademy platform within a 6 month period and in this time it has managed to attract high profile teachers, including Kiran Bedi, Governor of Pondicherry.  Its goal is to provide its service to all areas including remote rural communities within the Indian subcontinent.  Currently, more than 700 teachers lead lessons each day.

A plus subscription provides unlimited access to live lessons and when signing up students can choose between 1 month, 3 month, 6 month and yearly subscriptions.  After signing up, users are then required to select an exam syllabus and a bookable live lesson schedule is made accessible.  Apps are available for both the Apple and Google Play stores.

As well as Facebook, other new investors include Sequoia India and General Atlantic.  Nexus Venture Partners, SAIF Partners India and Blume Ventures have also invested in the company.  The capital raised will help Unacademy expand the number of competitive exams it provides and increase its educator base.  Its success in raising funding underlines the growth of online learning and EdTech in India.

“ Our goal is to democratise education and become not just the largest educational organisation but the largest consumer internet story out of India, ” Gaurav Munjal, Co-Founder and CEO

The investment from Facebook comes after it provided funding to Meesho, another Indian startup which utilises its WhatsApp service.

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