India’s Unacademy raises $50 million to grow its online learning platform
Big money continues to flow in India’s growing education market. Bangalore-based Unacademy, which operates an online learning platform to help millions prepare for competitive exams in India, has raised $50 million to further scale its reach.
The Series B financing round was led by Steadview Capital, Sequoia India, Nexus Venture Partners and Blume Ventures, with Unacademy’s own co-founders Gaurav Munjal and Roman Saini also participating in it. The new round means the startup has raised close to $90 million to date.
The four-year-old startup is aimed at students who are preparing for competitive exams to get into a college and those who are pursuing graduation level courses. Unacademy allows students to watch live classes from educators and then engage with the team in any questions they may have. It has 10,000 registered educators and 13 million learners — up from 3 million a year ago.
The startup said it will use the new fund to expand the number of educators it has on the platform, and also add more exam courses. It will also improve its product and expand the team.
Unacademy began its journey as a YouTube channel, but has since expanded to its own app where it