Unacademy to attain control of TapChief

CIOReviewIndia Team | Wednesday, 17 February 2021, 05:59 IST

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UnacademyAfter acquiring over $2 billion in investments during a pandemic year, the ed-tech sector in India is encountering consolidation with large players on an acquisition spree. With the vaccination drive in full-swing and gradual re-opening of educational institutions, companies like Byjus, Unacademy, Vedantu, Upgrad are focussing on overthrows to remain relevant in a post-pandemic scenario when physical learning will get back to prominence.

Softbank backed unicorn Unacacdemy on Tuesday said that it has attained professional networking platform Tap Chief at a valuation of Rs 100 crore. Unacademy, which was primarily focussed on training the professional services aspirants, had acquired medical entrance test preparation platform Prepladder for $50 million last year and forayed into non-test prep space by offering subscriptions for learning chess and other interpersonal skills.

The edtech firm said that as part of the deal, Unacademy will acquire a majority stake in TapChief, and facilitate the exit of all existing investors. “TapChief shares a similar ethos in a different space, as evident from the open community of professionals and learners they’ve created. Shashank and his team have delivered promising results in a short span of time and I am delighted to welcome the TapChief team to the Unacademy Group,” Gaurav Munjal, Co-Founder and CEO, Unacademy Group said.

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