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Unacademy Startup Funding News, Acquisitions and Updates

Unacademy Group, an Edtech major, has raised $440 Million as part of its most recent round of funding. The round was led by Temasek Holdings in Singapore, which valued the startup at $3.44 Billion.

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Unacademy Startup Funding News, Acquisitions and Updates

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  1. UnacademyStartupFunding News,AcquisitionsandUpdates UnacademyGroup,anEdtechmajor,hasraised$440Millionaspartofitsmostrecentroundoffunding.TheroundwasledbyTemasekHoldingsinSingapore,whichvaluedthestartupat$3.44Billion.TheroundalsosawparticipationfromSoftBankGeneralAtlanticandTigerGlobal.MiraeAssetandOyo'sRitesh Agarwal,zomatofounderDeepinderGoyal,alsoparticipatedintheround. GauravMunjal,co-founderandCEOatUnacademystatedthattheproceedswouldbeusedtoscaleUnacademy'sthreeproducts,includingnewlylaunchedRelevelandGraphy.Relevelisajobsearchtoolthathelpsanyonegetthejobtheywant,regardlessoftheireducation.Graphyallowscreatorstocreateonlinebusinessesandselldigitalgoods. AccordingtoresearchitwasfoundthatUnacademyco-foundersGauravMunjalandRomanSainistillholdaround15%ofthecompany.ThelargestinstitutionalstakeholderofthecompanyareSequoiaCapitalandNexusVenturePartners,SoftBank,andGeneralAtlantic,whichhold12.7%,12.8%,and10.5%,respectively.Temasek,whowasthemaininvestorinthenewround,hasnowacquired4.38%ofthecompany'sstock.TigerGlobalholds4.24%.BlumeVentures(formerlySAIFPartners),andElevationCapital(formerlySAIFPartners),wereearlybackersofUnacademyandretainanearly5%and3.4%share,respectively.

  2. UnacademyalsorecentlyannouncedtheacquisitionTapChief(aprofessionalnetworkingplatform)inadealthatwillenabletheunicornedtechcompanytoenteranewmarketsegment:preparingstudentsforjobopportunities.UnacademyalsorecentlyannouncedtheacquisitionTapChief(aprofessionalnetworkingplatform)inadealthatwillenabletheunicornedtechcompanytoenteranewmarketsegment:preparingstudentsforjobopportunities. Youmayalsolike:PolicyBazaarFiles forIPO;aBraveMoveConsideringtheTaxListing Threats Unacademyhasalsobeenonanacquisitionspreefollowingtheleadofarch-rivalByju.SinceJanuary2020,theTigerGlobal-backedcompanyacquiredninecompanies,threeofwhichwerejustthisyear.Althoughmostoftheseacquisitionswererelativelysmall,theywereabsorbedwellatthegrouplevel.However,MastreeinJuly2020wasoneofitsacquisitions. UnacademyFounders-UnacademyisanIndianeducationaltechnologycompanybasedinBangalore.ThecompanywasoriginallystartedasaYouTubechannelbyGauravMunjalin2010.ItwaslaterfoundedbyRomanSaini,MunjalandHemeshSingin2015.

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