Education tech startup, Unacademy is in talks to raise $100-150 million fresh funding at a valuation which will launch the company in the coveted unicorn club.

The financing bid has come less than four months after the firm raised a funding amount of $110 million round led by social media giant Facebook and New York headquartered blue-chip private equity firm General Atlantic. Existing investors including General Atlantic and Steadview Capital are likely to double down on their stake, while a host of global strategic and financial investors, including US-based hedge funds and China's Tencent have booked interest in the company at a potential valuation of more than $1billion, two sources aware of matter told a media house.

"At this point, there are multiple funds in the mix. The final contours will be finalised in four to six weeks," a source told a news daily.

The four-year-old startup allows educators to create videos on its website and app for users for courses from school level learning to college entrance exams across streams, besides for more advanced courses such as civil service exams and MBA entrance tests.

While its content was mostly free so far, last year, it started Unacademy Plus, a subscription-based service. Gaurav Munjal, co-founer of Unacademy had in March said that the online platform surpassed a watch time of 1 billion minutes, whilst educators took 1 lakh live classes.The company has also started subscriptions for class 9-12, recruiting teachers across India. 

An investor told the news daily that ed-tech firm has witnessed massive growth in the past few months "and the belief is that Covid-19 can structurally change consumption of education to online" in the country.

The Bengaluru based firm counts on the likes of Blume Ventures, Nexus Venture Partners, Steadview Capital, Sequoia Capital, Flipkart CEO Kalyan Krishnamurthy, and co-founder of B2B ecommerce platform Udaan, Sujeet Kumar among its list of investors.