Unacademy Sets New Skies to Touch as Flipkart & Paytm's Founders Back the Edu Startup

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BENGALURU: A set of entrepreneur angels has got on board for ‘Unacademy’, a free online learning platform to contribute as funders reports The Times of India.  The Bengaluru-based company has been backed up by Flipkart co-founders Sachin and Binny Bansal, Freecharge co-founders Kunal Shah and Sandeep Tandon, and Paytm's Vijay Shekhar Sharma, among others, and has reportedly raised a funding of one million US dollar.

There were participations from Blume Ventures, Stanford Angels India, WaterBridge Ventures, and Tracxn Labs as well which contributed in their investments. Earlier in May, the firm had raised 500,000 US dollar from Blume and a clutch of angels.

It was only in the last year that Unacademy was founded by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta. According to Munjal, the new set of funds will be used to hire new talent for business and product development. At present, Unacademy has about 130 educators who offer their content to the company, ranging across 200 courses. It is in the process of launching an app for educators to generate more expert content.

The list of current investors of the organization has prominent names such as Sujeet Kumar (ex-Flipkart), Aprameya Radhakrishnan (TaxiForSure's co-founder), Phanindra Sama (redBus co-founder), Sumit Jain (CommonFloor co-founder) and Vikas Malpani (CommonFloor co-founder). "We are really strong in UPSC preparations as a subject and have 2,500 people transacting for that in 48 hours. We are planning to add more courses as we figure out ways to monetize the platform," said Munjal.

Sachin Bansal, executive chairman at Flipkart, said, "Education and learning from the best suited teachers and professionals is a global problem, which we believe Unacademy solves seamlessly with its interactive and intuitive content. In a short span of eight months, the founding team has proved that leveraging technology to empower its educators and students is a problem that can be solved effectively at scale."

Over the past year or so, the education tech startup has been one of the most sought after, with the likes of Sequoia Capital-backed Byju raising 70 million US dollar. This was reportedly one of the largest investment rounds for an education company earlier this year. Other startups in the ed-tech space include names like EduKart, Vedantu, flipClass, CueMath, Toppr, Simplilearn and Vidyanext.

With prominent names emerging as investors for this edu startup, the future indeed looks promising. Sky’s the limit!

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