Unacademy is finalising a deal to raise around $150 mn led by SoftBank, boosting the ed-tech startup’s pre-money valuation to $1.3 bn, second only to industry leader Byju’s.
Unacademy last picked up $110 mn from Facebook and PE firm General Atlantic in February, at a valuation of $510 mn. Existing investors will also participate in the latest equity funding round, the sources said without sharing further details.
Sequoia Capital, Nexus Venture Partners, Steadview Capital and Blume Venture have been early backers of the firm. The fundraising will mark the first investment in an Indian firm by SoftBank since December.