Edutech startup Unacademy has successfully raised $21-million in Series C funding round from Sequoia India, SAIF Partners and Nexus Venture Partners. The fundraising also saw participation from existing investor Blume Ventures. Following the latest round, Unacademy’s total fundraising amount has raised to $38.6 million.
Unacademy plans to use the latest capital infusion to bring more educators on the platform, foray deeper into various courses including courses for pre-medical, GATE, and CAT and ramp up its core product and technology team.
“Right from the outset, we have focused on growing the platform by empowering the best educators. We have grown tremendously since our inception. Just last month, more than 3,000 educators were active on the platform and lessons created by them were watched more than 40 Mn times by learners,” said Gaurav Munjal, co-founder and CEO of Unacademy.
Unacademy is a brainchild of Gaurav Munjal, Roman Saini, Hemesh Singh, and Sachin Gupta. Initially launched as online educational channel on Youtube, it was pivoted into full-fledged learning platform in the beginning of 2016.
The platform basically enables educators hailing from various streams to create high quality content, which in-turn is made available for purchase for students and working professionals. Today the platform claims to have 14,000 educators on board, 3 Mn registered users and 300,000 lessons.
Unacademy’s latest fundraising round once again signifies investment community’s unflinching faith in the potential of edutech sector. The growing necessity among students and working professionals to upscale their skills and increasing penetration of internet have proven to be sustainable growth engine for the entire edutech sector.
The other top players in this sector are BYJU, Genext Students, Toppr, Simplilearn and Vedantu.
However, it is Bengaluru based BYJU that has toppled all other competitors to emerge as the poster boy of the entire sector. In fact, today BYJU is the only edutech unicorn in the entire Indian startup ecosystem, which clearly indicates the humongous potential of the entire sector.