Online learning startup Unacademy has secured $1 million (approximately Rs 6.7 crore) in an investment round in which entrepreneurs such as Flipkart co-founders Sachin Bansal and Binny Bansal as well as Paytm founder Vijay Shekhar Sharma participated. The round, led by Blume Ventures, is the second such for the company, which raised $500,000 (approximately Rs 3.3 crore) four months earlier, Business Standard reported.
Existing investors, including Stanford Labs and Tracxn Labs, made further investments in Unacademy, which claims to have grown to more than 1 million video views a month since its launch in January. The company said the money it received will be used to develop its product, hire more talent and research on how to seamlessly deliver education-based content online. Unacademy co-founder and CEO Gaurav Munjal further said that the startup will soon release a mobile application allowing “anyone across the world” to create lessons for its platform.
The company had earlier announced its plans to deliver all content produced for it for free, with a focus on making it available in multiple languages. So far, a hundred teachers have created more than 200 courses for the platform, with Unacademy claiming that more than 300,000 people have used its services.
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