upGrad acquires Unacademy for over $200 million

Edtech company upGrad has completed its acquisition of Unacademy for a sum exceeding $200 million. This transaction marks a significant reduction from Unacademy’s peak valuation of approximately $3.44 billion to $3.5 billion in 2021.

Unacademy co-founder and CEO Gaurav Munjal confirmed the deal, noting that while the sale price is a fraction of the company’s previous valuation, the business had improved its financial standing, reporting a turnover of approximately ₹400 crore and substantial reserves. The acquisition follows months of negotiations and regulatory approval from the Competition Commission of India.

The merger allows upGrad, led by Ronnie Screwvala, to expand its portfolio from higher education and professional upskilling into the K-12 and competitive exam preparation sectors. Unacademy’s offerings include courses for exams such as UPSC, JEE, NEET, and GATE, as well as the language-learning platform Airlearn.