India EdTech company Unacademy has raised $440 million in a funding round led by Singapore’s state investor Temasek and other investors including General Atlantic, Tiger Global, and Softbank Vision Fund.
The latest fundraise takes the valuation of Unacademy Group to $3.44 billion, Unacademy said in a statement on Monday.
The Series H funding round also witnessed participation from Aroa Ventures, the family office of OYO Founder Ritesh Agarwal, and Zomato Co-Founder and Chief Executive Officer Deepinder Goyal.
Some angel investors of Unacademy have exited in this round.
The funding round also came as India is still battling with the COVID-19 pandemic. On Monday, local media India Today reported that the COVID-19 cases saw an uptick on a week-on-week basis for the first time since mid-May after the decline in the second wave of the pandemic. This could be early signs of the much speculated third wave, which experts say could hit India in the coming weeks of August itself.
Over the last 18 months, the valuation of the Unacademy Group has risen almost 10 times, one of the fastest growth rates witnessed by a consumer internet startup in India, according to the company.
The latest round also follows one in January 2021 when Tiger Global, Dragoneer Investment Group, Steadview Capital, and General Atlantic doubled down on their earlier investments through a secondary transaction.
Unacademy was founded by Gaurav Munjal, Hemesh Singh, and Roman Saini in 2015.
Started as a YouTube channel by Gaurav Munjal in 2010, Unacademy is India’s largest learning platform with a growing network of 50,000+ registered educators and over 62 million learners.
Unacademy Group comprises Unacademy, Graphy, Relevel, and CodeChef.
Featured image credits: Unacademy