"Unacademy, once one of India's best-known edtech startups, may now be worth less than $500 million, 85% less than its pandemic-era peak valuation, as the company undergoes a steep reset and explores merger and acquisition options. In a detailed note posted on X on Wednesday marking the startup's 10th anniversary, Unacademy's CEO Gaurav Munjal said the startup's valuation has fallen sharply from its $3.5 billion peak three years ago to less than $500 million today. He also confirmed the startup is in M&A talks."
"Byju's, India's most valuable startup just three years ago, has seen its valuation written down to effectively zero, and it entered insolvency proceedings in September last year. In November, a U.S. bankruptcy court ordered its founder Byju Raveendran to pay more than $1.07 billion for ignoring court directives, and providing "evasive, incomplete" responses related to the transfer of $533 million by the startup's U.S. unit that it never recovered."
Unacademy’s valuation fell from $3.5 billion to under $500 million, an 85% decline from its pandemic peak. The company is engaging in merger and acquisition talks while undergoing a steep reset. India’s edtech sector fractured after pandemic lockdowns as demand shrank and students returned to offline classes. Byju's valuation was written down to effectively zero and it entered insolvency proceedings, with a U.S. court ordering founder Byju Raveendran to pay over $1.07 billion related to an unrecovered $533 million transfer. Physics Wallah turned profitable and delivered a strong public-market debut. Unacademy faced losses, abandoned aggressive expansion, and lost market share.
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