Unacademy to be acquired by upGrad in share-swap deal as India’s edtech sector consolidates

Unacademy is set to be acquired by upGrad in a 100% share-swap deal, consolidating two major Indian edtech platforms. Unacademy's valuation has dropped roughly 85% from its 2021 peak of $3.5 billion to below $500 million as India's edtech sector cooled post-pandemic. CEO Gaurav Munjal will continue leading Unacademy, which holds over $100 million in cash after restructuring and refocusing on core online products.