Earning its next bet in the Indian start-up space, social networking large Facebook has participated in a $one hundred ten million investment decision spherical in edtech business Unacademy.
The spherical, which was led by Typical Atlantic, also drew funding from Sequoia India, Nexus Enterprise Associates, Steadview Funds and Blume Ventures. Flipkart’s CEO Kalyan Krishnamurthy and Udaan cofounder Sujeet Kumar also participated in the spherical, which according to resources, valued the business concerning $400-500 million.
Previous June, Facebook had invested an undisclosed sum in social commerce platform Meesho, a start-up that connects resellers with clients by means of channels this kind of as WhatsApp.
“With this investment decision in Unacademy, we are reinforcing our motivation to the Indian start-up ecosystem as perfectly as investing in a business that is transforming studying in India,” stated Ajit Mohan, Vice President and Taking care of Director, Facebook India.
With the fresh influx, Unacademy also