Dragoneer, Bhavin Turakhia invest $10 mn in recent $440mn funding round: Unacademy

Unacademy on Friday said Dragoneer Investment Group and tech entrepreneur Bhavin Turakhia together invested USD 10 million as part of the edtech platform’s recent USD 440 funding round. Earlier this month, Unacademy had announced raising USD 440 million in funding, led by Temasek and super pro-rata participation from General Atlantic, Tiger Global, and Softbank Vision Fund. The round valued the edtech platform at USD 3.44 billion (about Rs 25,572 crore).

“…Dragoneer Investment Group and tech entrepreneur Bhavin Turakhia have invested in the company’s Series H round, through a mix of primary and secondary transactions. Dragoneer, and Turakhia together have invested USD 10 million of the USD 440 million raised,” a statement said on Friday. Dragoneer Investment Group first invested in Unacademy in November 2020. The round had also witnessed participation from Mirae Asset, Aroa Ventures (the family office of OYO Founder Ritesh Agarwal), and Zomato co-founder and CEO Deepinder Goyal said.

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Unacademy’s USD 3.44 billion valuation is a 70 per cent surge from its valuation during the previous fund raise in January 2021, the statement said. Founded by Gaurav Munjal, Hemesh Singh and Roman Saini in 2015, Bengaluru-based Unacademy specialises in test preparation for a wide array of competitive examinations including civil service, engineering and medical entrance and banking. It has more than 50,000 educators and 62 million users and offers courses in 14 Indian languages.