Bengaluru-headquartered edtech startup Unacademy on Thursday (September 25) acquired a Union Public Service Commission (UPSC) test preparation platform Coursavy for an undisclosed amount.
With the merger, Unacademy plans to strengthen its position in the UPSC test prep market. Unacademy had entered India's unicorn club (startups with a valuation of more than $1 Bn), with its funding worth $150 Mn led by Japanese multinational conglomerate SoftBank, Unacademy’s valuation now stands at $1.45 Bn, up from $510 Mn in February when it had last raised funds worth $110 Mn in a Series E round.
With the merger, Unacademy plans to conduct bi-monthly scholarship tests — Aspire — for UPSC aspirants, and also conduct knowledge sharing summits with UPSC toppers, top educators and experts from the field.
