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Indian edtech startup upGrad plans to acquire rival Unacademy in an all-stock deal; Unacademy was valued at less than $500M in 2025, down from $3.5B in 2021

Unacademy, once a one of India's most valuable edtech startups, is set to be acquired by rival upGrad in an all-stock deal …

TechCrunch Jagmeet Singh

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  • @gauravmunjal Gaurav Munjal on x
    Unacademy and upGrad have signed a term sheet for upGrad to acquire Unacademy in a 100% share swap deal. Neither side will disclose the valuation until closing, when the papers are filed and the transaction becomes public. In the last one year, a lot has happened at Unacademy: