India’s edtech major Unacademy has announced that it has led a strategic investment of $5 million to acquire a majority stake in Mastree, a leading K12 learning platform based in Bengaluru.
The Bengaluru-headquartered company, announcing the news in a blog post, said the investment will further strengthen its presence in the K12 learning space. In addition to the investment, the company has provided Blume Ventures an exit.
Founded in 2019 by Shrey Goyal and Royal Jain, Mastree recognizes the gaps in foundational learning and the challenging transition to middle school for both students and parents. It aims to help bridge this gap by strengthening the foundation and inspiring students to achieve excellence. The startup is building a one-stop subscription product for STEAM (Science, Technology, Engineering, Arts, and Mathematics) courses for classes 5-8, which will include Live Classes in small groups for Mathematics, Science, Public Speaking, Creative Writing, and Vedic Mathematics amongst others.
Along with Live Classes, students can also utilize various features like doubt solving, unlimited personalized practice, live quizzes, etc.
Commenting on the investment, Gaurav Munjal, Co-founder and CEO, Unacademy, said,
“During our first meeting, Shrey and Royal showed us the product they were building. We were very excited about it, and hence we decided to partner. We have a shared vision, and together we want to create an impact and make quality education accessible and affordable. Mastree is building a highly impactful subscription product, and it will change the way students learn. We are very happy to have Mastree as part of the Unacademy Group.”
Unacademy aims to bring quality and affordable education to all learners by enabling them to learn from India’s top educators. The platform currently has over 20,000 educators, 30 million+ learners, and caters to more than 35 exam categories.
Shrey Goyal, Co-founder and CEO, Mastree, also commented on the funding saying,
“Mastree’s mission is to help students achieve academic excellence by igniting their curiosity and providing them with personalized and affordable education. We are excited to be a part of the Unacademy Group and have the Unacademy team as a partner and mentor in this journey.”
Meanwhile, with this investment, Mastree will join the Unacademy Group, which consists of Wifistudy, Kreatryx, CodeChef, and PrepLadder. Unacademy has only recently acquired Chandigarh-based medical prep platform PrepLadder for $50 million to strengthen its presence in medical entrance examination categories.