Bangalore based, online learning platform, Unacademy raises funds from top startup entrepreneurs including Flipkart’s Sachin Bansal, Binny Bansal, Paytm’s Vijay Shekhar Sharma, and Freecharge’s Kunal Shah. This is after the recent half a million dollar funding the company received from Blume Ventures. The Trio backed the company by participating in a $1 million (INR 6.7 crore) funding round five months after the ed-tech platform closed its angel round.
Unacademy was initially launched as an educational YouTube channel by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta. Later in January 2016, they launched their free learning platform Unacademy.in. With over 15 million views on their a youtube channel, and a collection of more than 1500 lessons of several categories including Language courses, preparation for government exams, Chartered Accountancy subject materials, etc.The founders claim that over 3 lacs student have been benefited from their portal.
As per a Report by Economic Times, this new round is led by Blume Ventures, along with Stanford Angels India, WaterBridge Ventures, Traxcn Labs and a clutch of other angels, including Sandeep Tandon and Ashish Tulsian. Existing investors such as Sujeet Kumar (ex-Flipkart), Aprameya Radhakrishnan (Taxi4Sure), Phanindra Sama (redBus), Sumit Jain and Vikas Malpani (both CommonFloor) also participated.
Unacademy’s co-founder and CEO Gaurav Munjal said, “Within two months, the Unacademy Create app will be made available to all, so anyone across the world can create lessons in any language they like. After a thorough screening process, we will make the relevant lessons available on our platform that will be free for all to see.”
Sachin Bansal, executive chairman of Flipkart said in the report,””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”
The ed-tech sector has Coursera, edX, Udacity are among the most popular global players in the space. With the number of Internet users in India estimated to reach 500 million by 2017, ed-tech and MOOC platforms have tremendous room for growth.