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Peak XV led $20 M to be raised by edtech firm Masters’ Union: Report

Masters’ Union, a new-age business school, is in late-stage talks to raise new funds led by Peak XV, according to two sources familiar with the development. This will be the Gurugram-based company’s first round of investment in 2023.

“Masters’ Union is finalising a $20-25 million round which will be led by Peak XV,” said one of the sources requesting anonymity.

According to sources, a couple of other investors and several high-net-worth individuals will also participate in the potential funding round.

“The terms of the deal are in the final negotiations stage, and if nothing goes wrong from here, the transaction will be completed in a few weeks from now,” said another source who also requested anonymity as per reports.

Masters’ Union, which launched in 2020, provides undergraduate and postgraduate programs in areas such as business management, finance, and design, among others. According to its website, its faculty includes over 200 MDs, CEOs, and founders. Its classes are designed in the form of an internship, with guidance provided by industry practitioners rather than academic professors.

According to multiple media reports, the company received Rs 300 crore (more than $35 million) in its initial funding round from a number of corporate titans in April 2020.

Masters’ Union is aiming high with courses ranging from bootcamps to programs for working executives to a full undergraduate course offering a degree from Delhi University. The fees are also not to be taken lightly, starting at Rs 125,000 for the shorter courses and rising to Rs 30 lakh for the four-year undergraduate program.

The significant funding is a natural corollary of what Masters’ Union is aiming for: a piece of the lucrative, but highly brand-conscious, higher education market. Other startups, such as Unacademy and upGrad, have raised around $900 million and $800 million, respectively, and have taken a relatively ‘conservative’ approach, so it will be interesting to see how they respond to this new entrant.

 

 

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