Online Education technology platform Unacademy has raised $500,000(about Rs 3.3 crore) in seed capital, through a funding round led by Blume Ventures, along with angel investors including Rajan Anandan (Google), Sumit Jain (CommonFloor), Aprameya Radhakrishna (Taxi4Sure), Sujeet Kumar (earlier Flipkart), Phanindra Sama (RedBus) among others.
How does Unacademy spend these fresh funds?
The funds will be used for product development on both the educator and the consumer side and for developing more tools for educators as well as making the content more interactive for users.
Unacademy's vision is to distribute knowledge of the educators and innovators in the form of mini courses having lessons of not more than 10 minutes each.
Unacademy YouTube channel has more than 15 million video views and is among the top educational channels in the country.
100 educators on board currently and plan to scale up and go from 1,500 lessons to at least 4,000 lessons by the end of 2016. As part of their product development strategy and to reach out to more people,
To launch Android and iOS mobile apps in the coming few weeks.
Gaurav Munjal CEO
As per Research & Markets reports Massive Open Online Course (MOOC) sector is estimated to grow from $1.83 billion in 2015 to $8.50 billion by 2020, at an estimated compound annual growth rate (CAGR) of 36%. Asia-Pacific (APAC) expected to be grow at the highest CAGR for MOOC platform.
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