IndusLaw has advised India’s Sorting Hat Technologies on the 32.7-billion-rupee ($440 million) Series H funding round of its subsidiary, online learning platform Unacademy, with AZB & Partners and Khaitan & Co advising two of the investors.
Following the funding round, Sorting Hat is now valued at $3.44 billion. According to the Business Standard, the rise in valuation of Unacademy Group is among the fastest witnessed by a mid-stage consumer Internet startup in India.
Unacademy’s fundraising comes at a time when private equity investors are eyeing India’s edtech space. Rival learning platform Byju’s recently raised $1 billion, with AZB advising one of the investors, Silver Lake.
Partners Ashwath Rau, Srinath Dasari, Nanditha Gopal and Aditya Singh Chandel led the AZB team that advised Tiger Global Management’s Internet Fund in Unacademy’s recent funding round. Meanwhile, Khaitan advised SoftBank Investment Advisers.
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