As COVID 19 took the world by storm around this time last year, the landscape of education (as well as everything else) changed. Schools and universities shut down, and remote learning became the new norm. While this was hard on students, teachers, and everyone else, it opened up a window of opportunity for ed-tech platforms like Byju’s and Unacademy- a window that they capitalized on exceptionally. Over the last year, these platforms have witnessed unprecedented growth in user engagement, which has led them to make acquisitions to expand offering.
Unacademy, today, has made yet another acquisition in the form of Handa Ka Funda, an online coaching institute that is a leader in the field of CAT and MBA preparation founded by Ravi Handa. As part of the acquisition, Handa will join Unacademy for future activities. He announced the acquisition in a tweet that read:
Handa Ka Funda has been acquired by @unacademy pic.twitter.com/kJGe8OMyrs
— Ravi Handa (@ravihanda) March 23, 2021
Handa Ka Funda was founded by Ravi Handa in 2012 and offers various online courses related to banking exams and MBA preparation. The start-up has a network of 20,000 students who have enrolled for different online courses across various cities so far, and has now become one of the ‘go-to’ places for students who want to crack the MBA entrance exam.
Not only will this move help the Gaurav Munjal-led Unacademy reach a larger audience, but it will also help it establish itself in the field of MBA preparation.
Unacademy is setting itself up to be a giant in the Indian ed-tech ecosystem, competing with Byju’S and Vedantu. The ed-tech company has a network of over 40 million learners who have joined its platform to learn new skills and provides online content in 14 languages in over 5000 cities in India. The ed-tech market in India is expected to reach $10.4 billion by 2025.
In January, Unacademy joined forces with GATE (Graduate Aptitude Test in Engineering) exam teacher Ravindrababu Ravula as an exclusive teaching partner. Ravula founded Raudra Eduservices, a leading platform for Gate examination preparation. He has been free lectures on GATE preparation through the Unacademy platform from January 14.
Unacademy also recently made the announcement that it has joined hands with none other than legendary cricketer Sachin Tendulkar for promotion. Tendulkar will also work as the content creator on the Unacademy platform, taking online classes related to his area.