UpGrad completes Unacademy acquisition; Ultrahuman’s $60 million raise

UpGrad has finalized its acquisition of edtech company Unacademy for approximately $200 million, as CEO Gaurav Munjal announced on Tuesday. Unacademy's investors will receive shares in UpGrad, and the transaction is a 100% share swap. Unacademy's current annual revenue is Rs 400 crore, with Rs 900 crore in the bank, and most of its businesses are either profitable or close to profitability.

InsuranceDekho and RenewBuy have merged their businesses, creating a platform with a Rs 6,600 crore premium book. The merged entity operates under the InsuranceDekho brand and is led by founder and CEO Ankit Agrawal. The combined scale includes over six lakh insurance distribution partners, reach across 98.57% of India's pin codes, and more than two crore policies since inception as of March 2026.

Ultrahuman, a smart-ring maker, has raised $60 million in a funding round led by Qualcomm Ventures. The post-money valuation of the Bengaluru-based company is around Rs 3,450 crore, or about $360 million. The round includes Rs 282 crore raised earlier this year and a fresh issuance of up to Rs 301 crore approved in August. The new shares are issued at Rs 7.85 lakh apiece.

Yuma Energy, a battery-swapping company, has raised $35 million from automotive supplier Magna International. The funds will be used to expand Yuma's battery fleet, charging units, and physical swapping infrastructure. The startup aims to target e-rickshaw operators and similar fleets, diversifying its customer base beyond Yulu, which currently drives 15-20% of its business.