Social media giant Facebook has joined General Atlantic, Sequoia India and others for funding India’s rapidly growing online education startup Unacademy.
An investment of about $110 million has been planned to be invested.
“We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us. Our goal is to democratise education and become not just the largest educational organisation but the largest consumer Internet story out of India,” Gaurav Munjal, Co-Founder and CEO, Unacademy, said in a statement.
This is the second app after Meesho which is a social commerce venture empowering first time entrepreneurs that focuses on women of smaller towns.
“Facebook is an ally for India’s economic growth and social development, and we are excited about India and its rapidly rising Internet ecosystem.With this investment in Unacademy, we are reinforcing our commitment to the Indian startup ecosystem as well as investing in a company that is transforming learning in India” said Ajit Mohan, Vice President and Managing Director, Facebook India.