SoftBank froup corp. a Japanese conglomerate have invested $150 million while leading a round of venture investment in Unacademy.
This raises the Bangalore-based Edutech startup’s market value to $1.45 billion.
This move has catapulted the startup into the Unicorn category of businesses valued over $1 Billion or more. Investors in the $150 million funding include existing backers Facebook Inc. and Sequoia Capital. SoftBank’s money comes from Vision Fund 2, a successor to its initial $100 billion fund. The startup’s valuation has tripled from $510 million in February 2020 due to a surge in digital education due to the pandemic.