upGrad Nears Completion of Unacademy Acquisition
Edtech firm upGrad is nearing the completion of its acquisition of rival Unacademy for approximately ₹1,955 crore. The signing process is nearly complete, with the deal expected to close within three weeks.
Indian edtech major upGrad is in the final stages of acquiring its competitor Unacademy in a deal valued at approximately ₹1,955 crore (around $24 million USD). Sources familiar with the transaction indicate that the signing process is nearing completion, with most institutional investors having signed their agreements. The acquisition is anticipated to be finalized within the next three weeks.
Following the acquisition, Unacademy's co-founder and CEO, Gaurav Munjal, will continue to lead the startup. Additionally, Airlearn, a language learning platform incubated within Unacademy, will be included in the transaction and become part of upGrad.
This move represents one of the most significant consolidation efforts in India's edtech sector in recent years, as companies seek scale and operational efficiencies amid a prolonged funding slowdown. The acquisition follows years of intense competition between upGrad and Unacademy across various online learning segments.
Post-acquisition, Unacademy, PrepLadder, Airlearn, and Graphy are expected to operate from Bengaluru. Unacademy's investors will gain one seat on upGrad's board as part of the deal. It was also noted that Unacademy recently completed an ESOP exercise worth ₹45 crore, with a substantial portion of its former employees participating.