Edtech unicorn Unacademy has acquired Gate Academy, for an undisclosed amount, to strengthen its offerings in the GATE (graduate aptitude test in engineering) test preparation segment, The Economic Times has reported.
As a part of the transaction, the entire team of Gate Academy will join the edtech firm. Gate Academy’s founder, Umesh Dhande, has joined the Unacademy platform as Vice President, Academics, GATE and ESE.
YourStory has not independently verified the report.
The startup has also launched 50 new YouTube channels. The educational channels announced by Unacademy during its flagship event encompass broad categories—NEET UG and JEE, which includes Neev Udaan, NEET ki Neev, JEE QBank, Flash Learn, and Life after IIT, UPSC, other post graduation segments such as UPSC Unstoppable, Unacademy Margdarshak, EduQuest, IAS Icons, Tick Tock Tax and The 99 Percentile Club, bank, SSC and defence, including Unacademy Indradhanush, Unacademy Bangla, and Kerela Vijya Veethi.
“With the announcement of launching 50 unique channels, we are strengthening our commitment towards democratising education and presenting a strong content strategy for learners who are seeking knowledge in unique and exciting ways. Moreover, we are extending our purpose to the larger community and there can be no better occasion than today to share it with everyone. It is all about imparting education, which will build a stronger future,” said Vivek Sinha, Chief Operating Officer, Unacademy.
Founded in 2015 by Gaurav Munjal, Roman Saini, and Hemesh Singh, Unacademy entered the unicorn club in September 2020.
However, in the last few months, the edtech sector seems to have lost its mojo from the pandemic high.
Earlier this month, Unacademy, in a cost-cutting measure, suspended the contract of doubt-solving educators on the platform for six months. In April this year, the startup parted ways with around 600 full-time and contractual employees, who accounted for nearly 10% of its workforce, to reduce cash burn. In June, Unacademy laid off over 150 employees, citing poor performance.
