Hotline: 1800 102 2007
X
Search Business Opportunities
Jan, 16 2017

​Nexus, Blume Ventures invests USD 4.5 mn funds in Unacademy

Unacademy allows educators to create courses using their app on various subjects, including exclusive content for various competitive exams, which can be accessed by students.

Online learning platform Unacademy, run by Sorting Hat Technologies Pvt. Ltd., has raised $4.5 million (Rs 30 crore) in Series A funding led by Nexus Venture Partners and existing investor Blume Ventures, the company said in a statement.

The platform allows educators to create courses using their app on various subjects, including exclusive content for various competitive exams, which can be accessed by students.

The company will use the new capital for growing its educator base from 200 to 2000 in the next one year, across exam preparation, language learning and professional growth topics.

Sameer Brij Verma, who is going to join Nexus' board, said in a statement, "The team has done a great job in growing a community of committed educators nationally by providing them with easy to use powerful tools to share their knowledge, grow their influence and monetise their knowledge."

Gaurav Munjal, Co-founder, Unacademy, said, "With the influx of capital, Unacademy aims to empower more educators who come on the platform to create highly engaging courses that impact millions of students."

In August last year, the startup raised $1 million (Rs 6.7 crore) from a clutch of investors including Flipkart co-founders Sachin Bansal and Binny Bansal and Paytm founder Vijay Shekhar Sharma, with Blume Ventures leading the round. Blume also led the company's $500,000 (Rs 3.3 crore then) angel round in May. Byju’s is India's most funded company in the education and test preparation segment. In September, Byju’s, run by Think & Learn Pvt. Ltd, raised $50 million (Rs 332 crore) in a funding round co-led by Chan Zuckerberg Initiative (CZI). A month earlier, it had raised $75 million (about Rs 500 crore) from Sequoia India and Belgian investment firm Sofina.

Comment
Related opportunities
  • Roman Island enjoys emphatics store presence in abundance in Dubai,..
    Locations looking for expansion Andhra Pardesh
    Establishment year 2011
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 600-1000 sq. ft. - Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Andhra Pardesh
  • Others Food Service
    About Us: “FISH TODISH” brand is our own brand, brought into..
    Locations looking for expansion Maharashtra
    Establishment year 2010
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 250
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Premium Coffee & Tea Since 1963 carefully nurtured from seed..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2014
    Investment size Rs. 50lac - 1 Cr.
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Departmental/Unisex
    About : The brand name, “Sweet Dreams” enchants the heart and..
    Locations looking for expansion Maharashtra
    Establishment year 1989
    Franchising Launch Date 2018
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities