Unacademy, the online platform that allows educators to create courses, has raised another round of USD 1 million funding after the venture closed its angel funding some time back. The round that was let by Blume Ventures also saw participation from Flipkart’s Sachin Bansal, Binny Bansal, Paytm’s Vijay Shekhar Sharma and FreeCharge’s Kunal Shah.
Stanford Angels India, WaterBridge Ventures, Traxcn Labs and a clutch of other angels, including Sandeep Tandon and Ashish Tulsian and existing investors such as Sujeet Kumar (ex-Flipkart), Aprameya Radhakrishnan (Taxi4Sure), Phanindra Sama (redBus), Sumit Jain and Vikas Malpani (both CommonFloor) also participated.
Since its inception, Unacademy, has recorded close to 25 million views. The list of people who have help classes on the platform include former IPS officer and current Puducherry Lieutenant Governor Kiran Bedi and IAS Topper Tina Dabi. The startup plans to use the funding to scale up by investing in its app, research, product development and team. Chief Executive Gaurav Munjal says:
“Within two months, the Unacademy Create app will be made available to all, so anyone across the world can create lessons in any language they like. After a thorough screening process, we will make the relevant lessons available on our platform that will be free for all to see,”
Gaurav started the company along with 24-year old Roman Saini. Saini is a doctor from AIIMS, and one India’s youngest IAS officers, who resigned as the Assistant Collector of Jabalpur to start the company. All educators on Unacademy go through an interview process and the selection is based on their experience. The company then helps educators create video courses of not more than 10 mins on its platform, which are available to students for free.
Sachin Bansal, executive chairman at Flipkart says:
“In a short span of eight months, the founding team has proved that leveraging technology to empower its educators and students is a problem that can be solved effectively at scale,”
The startup claims to have more than 300,000 students for over 2,400 online lessons and specialised courses through the platform. In the month of May we had freported to you about the USD 500K funding that it had raised, again led by Blume Ventures.