Food delivery major Zomato’s CEO and co-founder, Deepinder Goyal has joined the board of directors of Unacademy, the edtech unicorn which raised Series H funding from Goyal and OYO boss, Ritesh Agarwal in August this year. Unacademy was valued at $3.44 billion, a significant jump from $2 billion valuation last year when it attained unicorn status.
The other major investors in Unacademy include SoftBank, Tiger Global and General Atlantic.
“I am thrilled to join the Unacademy board. I think it’s one of the best product companies being made in India, and I am looking forward to learning from Gaurav and the team,” said Deepinder Goyal.
Gaurav Munjal, Co-Founder & CEO, Unacademy Group said that Goyal has been an advisor for several years and it was only a matter of time before that association transformed into a formal partnership. “His experience with building and scaling a successful consumer technology company will help us tremendously as we build the country’s largest learning platform,” he added.
The announcement comes at a time when rivals like Byju’s have also secured billions of dollars in funding since the pandemic, expanded to overseas markets as well as made half a dozen acquisitions this year. The edtech industry boom in India since the pandemic onset has paved way for many investors to tap the growing market in India at a time when neighbour China has cracked down on private online education firms seen profiteering. The tech companies listed on Chinese and Hong Kong stock exchanges have lost billions of dollars this year due to the government’s action.
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