Roundup Story-Major Acquisitions in Ed-tech domain in 2021
The immense rise in EdTech users due to the ongoing pandemic has provided a significant push to the sector in India, which is relied upon to develop at a CAGR of 52% to turn into a 1.96 billion dollar industry by 2021. The edtech industry is witnessing an impressive growth spurt. Not only is its present scenario progressing, but it also seems like its future is really brightening up with new avenues opening for the pioneers in this industry.
The sudden advent of the industry has resulted in making the EdTech market extremely conducive for all kinds of deals such as mergers, acquisitions, joint ventures, new start-ups etc. Below is the round-up of some major acquisition deals in 2021 to depict the growth spree of the EdTech industry:
Synopsis
TapChief is Unacademy’s seventh acquisition in the past 12 months, and will enable the edtech startup to build Unacademy Pro.
SoftBank-backed edtech startup Unacademy has acquired TapChief, an online platform for professionals to earn incomes without full-time jobs.
As per the deal, Unacademy will pick up a majority stake in TapChief, ascribing it a valuation of Rs 100 crore and providing an exit to existing investors. TapChief had
raised a total of about $2.2 million from investors like Blume Ventures, Paytm, 500 Startups and angel investors like Cred founder Kunal Shah, Udhyam founder Mekin Maheshwari, and Slideshare founder Amit Ranjan.
This acquisition will enable the edtech startup to build Unacademy Pro, a platform which helps you become a Pro and get your dream job , Unacademy Group co-founder Gaurav Munjal said on Twitter without disclosing any further details.
Indian edtech unicorn Unacademy buys networking platform TapChief
(From left to right) Unacademy Founders Roman Saini, Gaurav Munjal and Hemesh Singh
February 16, 2021
Edtech unicorn Unacademy has acquired networking platform TapChief at a ₹100 crore valuation. This is its sixth acquisition in the last one year.
TapChief is a professional networking and future-of-work platform which enables professionals to learn, network and win short-term projects. As part of the deal, Unacademy will acquire a majority stake in TapChief and enable the exit of all existing investors.
The company did not disclose the deal value.
“Our endeavour at Unacademy has always been to democratise education and make learning accessible and affordable for everyone. TapChief shares a similar ethos in a different space, as evident from the open community of professionals and learners they’ve created,” said Gaurav Munjal, Co-Founder and CEO, Unacademy Group.