Internet

Unacademy to acquire Mastree and PrepLadder

As investor interest in edtech spikes, the bigger players are almost going into a frenzy to make deals and expand across verticals

Online test-prep company Unacademy is close to buying two smaller edtech startups—Mastree and PrepLadder—for an undisclosed amount. An announcement to the effect is likely very soon, according to people close to the development. (Update: Unacademy in a press conference today officially announced the PrepLadder acquisition, for $50 million in cash and stock.)

News of the deal comes amid a flurry of activity in the education technology sector. According to data from Venture Intelligence, venture capital companies have invested $785 million in edtech firms across 23 deals in the first six months of the year. That is almost twice the amount they had spent in the sector last year.

The larger startups, from Byju’s to Unacademy to Vedantu, have been targeting acquisition after acquisition, often encroaching onto each other’s turfs. We decode the rapid shift in Indian edtech.

To access this post, you must purchase Subscription, Regular, Regular – Annual, Regular – Monthly or Student.

Lead image by Joanna Kosinska on Unsplash.

The Morning Context has raised money from a clutch of investors, entirely in their personal capacity. It is quite likely that some of them may be directly or indirectly involved in a competing line of business similar to the companies we write about. Our full list of investors is here.

START YOUR DAY WITH THE MORNING CONTEXT

Subscribe to read this story and more
100+ new, deeply reported stories and 50+ shorts a year
Things Change, TMC’s weekly newsletter
Full access to the archives