Unacademy, an edtech startup raised INR 3.84 crore funding from existing investors – Sequoia Capital, Saif Partners, Nexus Venture Partners and Blume Ventures in a Series B equity round.
Its parent company, Sorting Hat Technologies Private Limited allotted 400 Series B1 preference shares of Rs 100/- each and a premium of Rs 96,127.10/- per share.
Previously, Unacademy raised an INR 75 crores Series B round in September 2017 led by Sequoia Capital and Saif Partners along with the participation of several other investors, notably, Nexus Venture Partners and Blume Ventures.
Unacademy was founded by Gaurav Munjal, who is now CEO of Flatchat, Roman Saini, Hemesh Singh and Sachin Gupta. Initially, the edtech startup operated as a YouTube channel but its popularity propelled the platform to expand business. It now boasts a website and a mobile app that has been downloaded by over 1 million users intended to help students gain academic knowledge.
The Bengaluru-based startup is now India’s largest educational platform, helped over 300,000 students prepare to crack competitive examinations through over 2,400 online lessons, and specialized courses. Unacademy provides learning information for several courses most particularly, UPSC CSE exam, SSC CGL, CAT, Bank PO, Railway Examinations, CBSE UGC NET, RBI Grade B Exam, among others. The platform claims to generate over 2 million views monthly and as well as helping students’ living in the remotest regions of India.
The platform now aims at collaborating with the brightest professors to expand its curriculum of courses in several languages that would benefit every Indians, irrespective of their linguistic background. The startup also wishes to impact the academic lives of youths and empower them with knowledge in a way that classrooms can’t. The platform shares knowledge through videos, live video classes, private discussion forums and personalized learning.