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SoftBank joins India's online education boom with startup funding

Unacademy's valuation triples in seven months as COVID-19 boosts demand

Students attend an open-air class in New Delhi in July. The coronavirus pandemic has increased the urgency of providing online education opportunities in India.   © Reuters
WATARU SUZUKI, Nikkei staff writer | India

TOKYO -- SoftBank Group has joined India's booming online education market by leading a $150 million investment in local startup Unacademy.

Unacademy said in a statement Wednesday the investment values it at $1.45 billion. That is nearly triple its $510 million valuation in February.

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