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One of the EdTech Startup which follows the principle of Democratising Education Globally – Unacademy has raised $11.5 Mn (approx. INR 70 Cr) Series B round with Investments from Sequoia India and SAIF Partners. Existing investors viz Nexus Venture Partners and Blume Ventures also participated in the round.
A brief about Unacademy
The Startup follows the principle of Democratising Education Globally. Unacademy currently compiles 50,000 lessons online with a user base of 1.3 Mn registered users taught by more than 4,000 educators. Out of these 4000 educators, 25% of the educators are active monthly. It also bears the tage of being the largest education channels on YouTube India with over 1 million subscriber base.
What would Unacademy do with $11.5 Mn ?
The Startup is looking forward to bring in professional courses, job portals and curriculum around personality development as well as job interviews on its platform to open its reach to Tier 2 and Tier 3 cities where with the mobile internet penetration, users are onboarding online learning and certifications platforms. With money now in the bank account, the Startup plans to grow 10X and onboard more than 10,000 educators across the globe in 18 months.
Speaking on the development Gaurav Munjal, CEO and co-founder, Unacademy stated, “Our vision is to build the world’s largest online knowledge repository by empowering great educators. With the backing of Sequoia and SAIF, we are poised to significantly gain momentum and create the first global education technology product out of India. I’m very excited to kickstart this new phase of growth for Unacademy.”
Saif Partners is one of the leading VC’s of India which had also been talk of town with its 16X ROI with MakeMyTrip share when the company went public. SAIF partners has also launched recently a corpus of $350 million along with recent biggest investments in FinTech companies like Paytm.