India, Sept. 1 -- After months of negotiations and regulatory clearances, edtech major upGrad has completed its acquisition of Unacademy in a deal valued at just over $200 Mn.

Unacademy cofounder Gaurav Munjal announced the closure of the transaction in a post on X today.

"We raised at a peak, but sold at a fraction of that. I'm not going to dress these facts up. But I am proud of what this team did between those two numbers," Munjal said.

The final transaction value represents a decline of more than 94% from Unacademy's peak valuation of $3.5 Bn in 2021. The startup has raised more than $830 Mn to date from investors such as SoftBank, Peak XV Partners, Elevation Capital, Blume Ventures, and Meta.

The acquisition will give Ronnie Scre...