Facebook, India has invested over $110 million in one of India’s fastest growing education technology called Unacademy. Reportedly this is the second big investment by Facebook in India. In 2019, Facebook poured funding in a local startup called Meesho which is a social-commerce venture entrepreneur who especially empowers women to get better in the business world.
Gaurav Munjal, Co-Founder, and CEO, Unacademy states that they are overwhelmed and thanks to General Atlantic and Facebook who have knocked our doors for the partnerships and showed interest and trust in their idea of educating people on the digital platforms. They are also thankful to existing investors for the support and taking the idea forward for the betterment of society. They further added that their mission is to democratize education and make their name as the largest education organization and consumer Internet story out of India. Journey and their existing investors.
There were intelligent minds attending the program of funding including Steadview Capital and Blume Ventures also showed their presence in this round of funding, with them Sujeet Kumar, co-founder, Udaan, Kalyan Krishnamurthy, CEO of Flipkart were also on board during the program.
Ajit Mohan, Vice President and Managing Director at Facebook, India talked about Facebook India’s economic growth and bringing more advancements in social development with the rising internet ecosystem. Moreover, Mohan added with the statement that with the investment made with Unacademy, they are reinforcing their commitment to the Indian startup ecosystem and investing in a company that transforms India to focus on learning and education according to their comfort.
The edtech start-up Unacademy stated that they will be using this funding to penetrate into the launching multiple exam categories, test preparation categories, creating an exceptional learning experience for the learners through strong content, and acquiring top educators. On getting a huge investment by Facebook, India, Unacademy showed exits to some of the angel investors.
Munjal stated that from day one they are committed with a goal to democratize education and make high-quality education accessible to every possible student who registers to Unacademy. They are on a mission to get the best educators and content on their platform along with easy access for the users to get what they require.