The edtech segment is set to develop into fiercer ahead as SoftBank and Facebook-backed India’s second most worthwhile edtech unicorn Unacademy continues to concentrate on driving development inorganically. The enterprise, which has been on an acquisition spree because final year with 5 buyouts in 2020, announced its most current deal on Tuesday. Unacademy has now acquired experienced networking platform TapChief at a valuation of Rs one hundred crore. Once a YouTube channel, Unacademy was incorporated as a enterprise in 2015 and had produced its initial acquisition — on the internet study platform for government exams – WiFiStudy in 2018. The enterprise had turned unicorn in September final year with a $150-million investment led by SoftBank amid Covid-induced development in the edtech marketplace and presently competes with Byju’s, Toppr, Vedantu, and so on.
Unacademy has purchased a majority stake in TapChief, which permitted corporations and experts to connect with specialists on-demand, supplying exit to all current investors. The enterprise had more than 1.5 lakh experts on its platform. “Our endeavour at Unacademy has always been to democratise education and make learning accessible and affordable for everyone. TapChief shares a similar ethos in a different space, as evident from the open community of professionals and learners they’ve created,” Gaurav Munjal, Co-Founder and CEO, Unacademy Group stated in a statement. Four-year-old TapChief catered to more than 150 enterprise buyers across sectors such as education, FMCG, e-commerce, enterprise SaaS, and so on. The enterprise was launched by BITS Pilani Alumni, Shashank Murali, Binay Krishna, and Arjun Krishna.
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Unacademy had acquired Kreatyrx in March 2020 that presented merchandise like on the internet test series, video courses, postal courses, and coaching classes for GATE and SSC CGL aspirants. In June, it purchased serial entrepreneur and billionaire Bhavin Turakhia’s CodeChef for programmers to find out competitive programming. Unacademy additional acquired PrepLadder – an on the internet platform for health-related entrance exam preparation for $50 million and later it purchased UPSC CSE prep platform Coursavy in September. It had also acquired test prep startup NeoStencil for an undisclosed quantity in December. Unacademy claimed obtaining a network of more than 49,000 registered ‘educators’ and more than 40 million learners and was backed by Tiger Global, Dragoneer Investment Group, General Atlantic, Sequoia India, SAIF Partners, Nexus Venture Partners, Steadview Capital, and Blume Ventures as properly in the previous. The most current deal by Unacademy came amid media reports of Byju’s searching to obtain Toppr for up to $150 million.