In the future, the company plans to use the proceeds to further strengthen its presence in the existing 28 cities and expand pan-India by the end of 2021 to help accelerate India’s economy.
Ashneer Grover has been elevated to Co-founder and Managing Director, while Suhail Sameer has been appointed as the CEO.
Over the last 18 months, the valuation of the Unacademy Group has risen almost 10X, one of the fastest growth rates witnessed by a mid-stage consumer internet startup in India, the statement said.
The financial services company last month raised Rs 50 crore in debt from Northern Arc Capital, one of the leading digital debt finance platforms. This was the sixth round of debt financing in 2021.
Sources said that Tiger Global may lead a $100 million funding round in ClearTax at a $1 billion valuation whereas Softbank will back Flipkart with a mega $600-700 million funds raise this year.
Koo is the only platform which announced that it has adhered with the social media regulations proposed by the Indian government aimed to act against fake news and unverified users.