Online learning platform Unacademy today said it has raised USD 11.5 million (about Rs 73.61 crore) in a funding round led by Sequoia India and SAIF Partners. Existing investors and angels, including Nexus Venture Partners and Blume Ventures, also participated in the Series B round, Unacademy said in a statement. It will utilise the funding to accelerate its product and technology development as well as scale to other categories including personality development, new languages and job interviews, the statement added. "The company will also significantly invest in producing its own knowledge-based content with its top educators on the platform," the company said. Unacademy's platform currently has more than 50,000 lessons online and over one million registered users. Its educators range from influencers like Kiran Bedi to teachers in smaller towns and cities. Unacademy was founded by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta.
Recently, the company added serial entrepreneur Bhavin Turakhia to the board. "With the backing of Sequoia and SAIF, we are poised to significantly gain momentum and create the first global education technology product out of India," Gaurav Munjal, CEO and co-founder of Unacademy, said. In April last year, the company had raised its first round of funding worth USD 500,000 (about Rs 3.35 crore). Later in August, it said it had received USD 1 million from Paytm founder Vijay Shekhar Sharma and others. In January this year, it raised USD 4.5 million in funding led by Nexus Venture Partners and Blume Ventures.
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