Education technology company upGrad has completed its acquisition of Unacademy for just over $200 million, marking a significant development in India’s competitive edtech sector. Unacademy co-founder and CEO Gaurav Munjal confirmed the completion of the transaction on September 1.
The deal follows months of negotiations between the two companies and gives upGrad a stronger presence in the online test-preparation market.
Unacademy has built a large digital learning platform serving students preparing for competitive examinations. The acquisition will allow upGrad to expand its education offerings and strengthen its position in India’s rapidly changing online learning industry.
The transaction also represents a major change in valuation for Unacademy. The company had previously reached a peak valuation of approximately $3.44 billion, making the latest deal a substantial reset compared with its earlier market value.
The Indian edtech industry has experienced significant changes following the rapid expansion of online education during the pandemic. Companies have since shifted their focus toward profitability, sustainable growth and stronger business models.
The acquisition could help upGrad combine its existing higher-education and professional-learning services with Unacademy’s large test-preparation business.
The deal is therefore expected to reshape competition in India’s digital education market while giving students access to a broader range of learning services.
