ADVERTISEMENT

Unacademy Acquires Test Prep Startup Coursavy
U

Unacademy is planning to increase its position in the UPSC test preparation market. The educators of Coursavy, including the cofounder Vimal Singh Rathore, will teach on the Unacademy platform. Furthermore, they will also mentor existing educators of Unacademy. Earlier this month, Unacademy entered the unicorn club of India.

On Thursday, Unacademy (1), an edtech startup headquartered in Bengaluru, acquired Corsavy (2), a UPSC, Union Public Service Commission test preparation platform for an undisclosed amount.

Unacademy is planning to increase its position in the UPSC test preparation market with the latest acquisition. Earlier this month, Unacademy entered the unicorn club of India after receiving funds worth 150 million USD. SoftBank, a Japanese multinational conglomerate, led the mentioned fundraise. The valuation of Unacademy now stands at 1.45 billion USD.

The edtech startup is planning to conduct scholarship tests twice a month for UPSC aspirants with the merger. It will also manage knowledge sharing summits. Several UPSC toppers, educators, and field experts will participate in the forum.  

Gaurav Munjal, the Co-founder and CEO of Unacademy stated on the merger that the platform is growing and strengthening its position as a leader for the test prep market. With Coursavy on-board, Unacademy gets a strategic role in the UPSC examination category. He added that Unacademy aims to democratize Indian education and the acquisition is a step towards that direction. 

 

Unacademy is Streaming Acquisitions

In July, the firm acquired Mastree to increase its position in the K12 segment. The edtech startup, Mastree, is an one-stop subscription platform for STEAM courses for classes five to eight. The acquisition came only a week after acquiring another startup PrepLadder. PrepLadder offers postgraduate medical entrance exam preparation lessons. 

Earlier in 2020, the edtech unicorn acquired Kreatryx. The acquisition aimed to increase Unacademy presence in GATE and ESE space. In June 2020, it also merged with CodeChef, a startup that offers programming courses. 

Unacademy, along with its rival BYJU’s, is moving towards becoming super apps by acquiring smaller edtech startups with niche offerings. 

As per the 2 billion USD Edtech Opportunity Report 2020 of Future of India, the alliance of K-12 and test preparation will make 66% of the total online education market by 2021. The combination is valued at approximately 1.3 billion USD. 

As per estimations, the Indian edtech segment, offering skill development and online certification, accounts for 463 million USD. The market is growing at 38% CAGR from 2016 to 2021.

+ posts

Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Peggy Founder - Harkamal Singh Grover with Nikita Mittu (Team TimesNext)

I Scream, You Scream – Peggy Ice-Cream, Chandigarh

0
“My dad is a Foodie. A foodie from another generation has passed his love for food to me.” – says Harkamal Singh Grover  If you follow...
On Sunday, Amazon won an interim order against its partner, Future Group. The group was all set to sell its retail business to Reliance for Rs 24,713 crore.

Battle of Business Rivalry: Amazon Vs. Reliance

0
The high-profile and exclusive partnership between Amazon (1) and Future Group (2) is on the rocks after Amazon sought legal proceedings against the retail...
the-unheard-story-of-xero-degrees-patiala

The Unheard Story of Xero Degrees and Their Adorable Outlet at Patiala

0
Xero Degrees (1) is now an established brand that was founded by Kashish Aneja and his friend, Shivam Kakkar. Kashish Aneja studied marketing and...
Getting a job at Google is the dream of most people. Today Google is the top technology company ruling all over the other sites in the world.

How to get job at Google? Things you should know while applying for a...

0
When you dream about working at Google, your inner self tells you how unique perks Google provided you while working like unlimited free food,...
There is an imminent requirement for data protection that safeguards personal information from corruption, compromise, and loss.

The Need for India to Regulate Personal Data Protection on Social Media

0
The modernization and innovation in the Information Society determine the new necessities for current information and communication technologies to find different globalization problems and...
KillerLaunch is providing excellent work from home opportunities for students and young professionals amidst the pandemic, supporting PM's Vocal for Local push.

Tired of searching jobs near me on the internet? 6 tips to find jobs...

0
If you're finding a job in a specific geographic area, chances are either you've just moved in or looking for a position close to...
The E-commerce industry has been the center of attraction. With abundant users and market strategies, the game for a competitive market has been growing.

E-commerce Wars: Is there a winner?

0
It's 2020, We are now facing a crisis that isn't showing a positive change. The market has been predicted to sink if proper economic...
COVID-19 marks a paradigm shift. Everything is set to change. It has altered the ways we go about our personal and professional lives.

How Has COVID-19 Changed Healthcare Forever

0
COVID-19 marks a paradigm shift. Everything is set to change. It has altered the ways we go about our personal and professional lives. Education,...
ADVERTISEMENT