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Unacademy raises $1 million in second round of funding
Unacademy of Sorting Hat Technologies Pvt Ltd has received a new round of funding of $1 million.

Founded by Gaurav Munjal, Roman Saini, Hemesh Singh and Sachin Gupta, the company had raised $500,000 from a number of investors. 

Co-founders of Flipkart Sachin and Binny Bansal, Freecharge co-founders Kunal Shah and Sandeep Tandon, and Paytm's Vijay Shekhar Sharma, among others, are now backing the Bengaluru-based company which has raised $1 million from investors.

This round of investment saw participation from investors such as Blume Ventures, Stanford Angels India, WaterBridge Ventures, and Tracxn Labs.

At present, the startup has a 14-member team along with 130 educators who offer their content to the company.

Unacademy presently offers free video courses on the line of Coursera, and EdX. The company plans to utilise the raised funds to develop its product to increase it's market share in the online education content market. The company plans to make the online education content free for all.

"Within two months, Unacademy's Create app will be made available to all, so anyone across the world can create lessons in any language they like. After a thorough screening process, we will make the relevant lessons available on our platform that will be free for all to see," said Gaurav Munjal, co-founder and CEO at Unacademy, in a statement.

The education tech space is increasingly growing with players such as Sequoia Capital-backed Byju raising $70 million in one of the largest investment rounds for an education company earlier this year.

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