Unacademy concludes $50 million secondary share sale

Unacademy's surging valuation and sustained fundraising compares with that of larger rival Byju’s, which—after raising close to $1 billion last year—is in talks to raise $200 million from US-based asset manager T Rowe Price at $12 billion valuation, according to an ET report. The company is now said to have signed a billion-dollar deal to acquire Aakash Institute.

Investors are queuing up to invest in Indian edtech startups amid the pandemic-induced boom in online classes. Investments in the sector surged 300% over the year ago to $2.22 billion in 2020, as per a report by the Indian Private Equity and Venture Capital Association and PGA Labs. Overall, India’s education market is worth $117 billion with over 360 million learners. Primary schooling comprised 66% of the spending followed by 27% on secondary education.

The full article was originally published on The Economic Times - ET Tech