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Bengaluru, July 14 (IANS) Bengaluru-based edtech platform Unacademy on Tuesday announced that it has led a strategic investment of $5 million (approximately Rs 37.7 crore) to acquire a majority stake in Mastree, a leading K12 learning platform.
Started in October 2019, Mastree recognised the gaps in foundational learning and the challenging transition to middle school for both students and parents.
Founded by Shrey Goyal and Royal Jain, the company's mission is to help bridge this gap by strengthening the foundation and inspiring students to achieve excellence.
Mastree 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, Vedic mathematics, and others.
Along with Live Classes, students can also utilise various features like doubt solving, unlimited personalised practice, Live quizzes, etc.
"Unacademy and Mastree have a shared vision, and together we want to create an impact and make quality education accessible and affordable," Gaurav Munjal, Co-Founder and CEO, Unacademy, said in a statement.
"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."
With this investment, Mastree will join the Unacademy Group, which consists of Wifistudy, Kreatryx, PrepLadder, and CodeChef.
In addition to the investment, Unacademy has provided Blume Ventures an exit.
--IANS
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