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Unacademy Raises Fresh Funds, Valuing at $2 Billion

Bangalore-based Edtech startup Unacademy on Wednesday said that it has raised funds from Global investment firm Tiger Global Management and Dragoneer Investment Group at a valuation of $2 billion. The funding amount is not disclosed by the online learning platform, but a person known of the development said that is was about $60-80 million. 
Lastly in September, Unacademy has raised $150 million in a funding round which was led by SoftBank Vision Fund 2 that tripled its valuation to $1.45 billion in just six months, making it the second most valuable edtech startup after Byju’s. Previously, it has raised $110 million in February from Facebook Inc., General Atlantic and Sequoia Capital at a valuation of $510 million.
Unacademy is India’s largest online learning platform and pandemic has accelerated the growth of edtech startups, as educational institutions and offline classes were disrupted due to the spread of deadly coronavirus disease which prompted students to shift toward online learning platforms. During the Covid-19 pandemic, the pace of edtech startups in raising funds was increased and both the global and domestic investors continued to bet big on these online learning companies by fuelling valuations.
Unacademy was founded five years back by Munjal, Roman Saini and Hemesh Singh. The platform offers test preparation classes for subjects ranging from civil services, banking exams to programming languages. It has over 47,000 educators teaching on its platform in more than 14 Indian languages and has users across 5,000 cities.

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