Unacademy, once a thriving edtech startup in India, has seen its valuation plummet by 85%, now valued at less than $500 million. The companys CEO, Gaurav Munjal, confirmed this significant drop and revealed that Unacademy is exploring merger and acquisition opportunities. This downturn reflects a broader shift in Indias edtech landscape, as companies like Unacademy and Byjus, once booming during the pandemic, now face challenges due to stalled growth and increased competition. Byjus, for instance, has seen its valuation effectively plummet to zero and entered insolvency proceedings. In contrast, Physics Wallah has become profitable and recently had a successful public market debut. Unacademys CEO acknowledged the companys struggles, including shrinking demand, intense competition, and internal issues, leading to a focus on streamlining operations and reducing costs. Recent reports suggest that rival company UpGrad has discussed acquiring Unacademy for a sum between $300 and $400 million, highlighting ongoing consolidation within the Indian edtech sector.

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