BENGALURU: Unacademy has acquired majority stake in online learning platform Mastree for $5 million, as the education technology startup looks to strengthen its position in the kindergarten to grade 12 education market in India.
The investment comes just days after Unacademy said it would acquire postgraduate medical entrance exam preparation platform PrepLadder for $50 million.
Mastree will join Wifistudy, Kreatryx, PrepLadder, and CodeChef as part of the Unacademy Group, the company said in a statement on Tuesday.
The deal has provided Mastree investor Blume Ventures an exit, Unacademy added.
“Mastree is building a highly impactful subscription product, and it will change the way students learn. We are very happy to have Mastree as part of the Unacademy Group,” said Gaurav Munjal, CEO at Unacademy.
The startup, founded by Shrey Goyal and Royal Jain, is building an online subscription service for STEAM (Science, Technology, Engineering, Arts and Mathematics) courses for students in grades 5-8.
The platform will include live classes, doubt solving, personalised practice and live quizzes, it said in a statement. “Mastree’s mission is to help students achieve academic excellence by igniting their curiosity and providing them with personalised and affordable education,” said Goyal, CEO of Mastree.
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