Unacademy, an edtech platform, on Tuesday announced, it has acquired Gurgaon-based Swiflearn, an online platform that provides live face-to-face online tuitions for school students, for an undisclosed sum.
According to a statement, the acquisition is in line with Unacademy's plans to strengthen its position in the K-12 category and optimize its product offerings in the space.
Abhinav Agarwal and Anand Bakode launched Swiflearn in 2019 with an aim to provide an online platform for academic courses that can offer personalized home tuition to students in grades 1-10 in the CBSE and ICSE boards. The platform basically provides online tuition classes in English, Mathematics, and Science, as well as other subjects such as mental ability, life skills, and Vedic math.
"Swiflearn is developing a high-impact, personalized, and scalable learning product that will revolutionize the way students learn." Abhinav, Anand, and the team have created a fantastic product that is gaining a lot of traction. We have a shared vision to make quality education accessible and affordable for students of all ages, and we are delighted to have them as part of the Unacademy Group,” said Gaurav Munjal, CEO & Co-founder at Unacademy Group.
Prior to the current development, The Gurgaon-based edtech firm had raised an undisclosed sum in its seed funding round from Venture Highway, Stellaris Venture Partners, and Utsav Soni (AngeList India).
This is not Unacademy's first acquisition. Previously, the edtech major had acquired over ten startups including Rheo TV, PrepLadder, Mastree, CodeChef, and Kreatryx, among other players in the space.
At present, Swiflearn has over 1,500 teachers, with an average class rating of 4.9 out of 5. The platform hosts more than 30,000 classes every month and has over 120,000 registered learners, the statement said.
"We are very excited to join Unacademy, since our strengths of pedagogy, content, and personalized classes combined with Unacademy's product, brand and reach will make it a strong value proposition in the K-12 market. Anand, I, and the team of Swiflearn are looking forward to working closely with the entire team at Unacademy and learning from them," said Abhinav Agarwal, Co-founder, Swiflearn.
The edtech space in India has grown rapidly around the world, including in India, with the COVID-19 pandemic serving as a tipping point. Many offline classes moved online to ensure educational continuity while adhering to social distancing norms.
Apart from this, Another edtech major Byju's has been rapidly expanding its operations through an aggressive acquisition strategy. The startup, which is estimated to have raised over US$1.8 billion since the start of the pandemic, acquired Aakash Educational Services Ltd earlier this year for nearly US$1 billion. It has also acquired Great Learning and Epic, both of which are based in the United States.
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