India’s Unacademy sells to rival upGrad for $206M, about 94% less
Unacademy, once one of India’s most valuable edtech startups, has been acquired by rival upGrad at a valuation of just over $200 million, about 94% less…
Summary
Unacademy, once one of India’s most valuable edtech startups, has been acquired by rival upGrad at a valuation of just over $200 million, about 94% less than its 2021 peak valuation. 55 billion (about $206 million), upGrad’s co-founder and chairperson Ronnie Screwvala told TechCrunch. Unacademy shareholders are receiving upGrad shares as part of the transaction, while angel investors were cashed out at closing, Screwvala said. On Monday, Unacademy co-founder and CEO Gaurav Munjal said in a post on X that the deal had closed, nearly six months after the transaction was first announced in March.
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