The Ronnie Screwvala-led UpGrad has completed its acquisition of Unacademy for "just over $200 million," cofounder and chief executive Gaurav Munjal said on Tuesday, marking the close of a major consolidation in India’s edtech sector. The final value was more than 90% below test-prep company Unacademy’s peak valuation.
Munjal noted that Unacademy became a unicorn six years before the deal closed. “We raised at a peak, but sold at a fraction of that. I’m not going to dress these facts up.”
