Acquisition · Education & Skilling

UpGrad to acquire Unacademy in all-stock deal

What they do

Unacademy is an online learning platform with over 10 crore learners and 200+ exams

UpGrad is acquiring Unacademy in an all-stock deal valued at about ₹2,055 crore ($218 million)

The deal is one of the biggest consolidation moves in Indian edtech after the sector's post-Covid struggles

UpGrad is acquiring Unacademy in an all-stock deal valued at about ₹2,055 crore ($218 million).
The deal is expected to close in June or July 2026, subject to approval from the Competition Commission of India (CCI).
Unacademy co-founder Sumit Jain will leave his executive role on 30 June 2026 and then serve in an advisory role.
Co-founder Gaurav Munjal will take charge after Jain's exit.
UpGrad is in talks to raise about ₹375 crore from existing investors including Temasek.
Temasek holds about 22% stake in upGrad and about 5% in Unacademy.
The deal is one of the biggest consolidation moves in Indian edtech, a sector struggling after the Covid boom and the collapse of BYJU'S.

Unacademy was valued at $3.4 billion in 2021, but the acquisition values it much lower.
The edtech sector has faced a severe downturn after the pandemic, leading to consolidation.
Unacademy is expected to have a cash balance of ₹900-950 crore after the deal.

Unacademy is India's largest learning platform with over 10 crore learners.
It covers 200+ exams across 60+ exam categories.
The platform offers 1,500+ daily live classes and has 1 million+ video lessons.
Learners have watched over 3.2 billion minutes of content.
Unacademy works with 14,000+ educators.

The deal is subject to CCI approval and expected to close in June or July 2026.
UpGrad is in talks to raise about ₹375 crore from existing investors including Temasek.

Temasek (existing) — Singapore-based investment company; holds about 22% in upGrad and about 5% in Unacademy.
Blume Ventures (existing) — Indian venture capital firm; invested in Unacademy.
Peak XV Partners (existing) — Indian venture capital firm; invested in Unacademy.
Elevation Capital (existing) — Indian venture capital firm; invested in Unacademy.
SoftBank (existing) — Japanese conglomerate; invested in Unacademy.