Unacademy in talks to raise up to $150 million

The Bengaluru based start-up is eyeing to enter the coveted unicorn club.

Education technology start-up Unacademy is reportedly in talks to raise up to $150 million in fresh funding. The Bengaluru based start-up is eyeing to enter the coveted unicorn club with the said valuation. The firm is in talks with US based financial investors and strategies from China, beside global private equity firms.

The latest round could close by end-June or mid-July and is likely to be followed by secondary transactions. The ongoing set of negotiation, if successful, could potentially double its valuation.

“The growth in the last few months has been massive, and the belief is that Covid-19 can structurally change consumption of education to online,” The Economic Times quoted an investor.

The financing bid comes less than four months after Unacademy raised $110 million in a financing round led by Facebook and blue-chip private equity firm General Atlantic.