Unacademy to acquire control of TapChief  

BENGALURU: After receiving over $2 billion in investments during a pandemic year, the ed-tech sector in India is witnessing consolidation with large players on an acquisition spree. With the vaccination drive in full-swing and educational institutions re-opening gradually, firms like Byjus, Unacademy, Vedantu, Upgrad are focussing on buyouts to remain relevant in a post-pandemic environment when physical learning will regain prominence.

Softbank backed unicorn Unacacdemy on Tuesday said that it has acquired 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 life-skills.

The edtech firm said that  as part of the deal, Unacademy will acquire a majority stake in TapChief, and enable 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.