The year 2021 has been of fundraising and consolidation for edtech new businesses. The ecosystem has effectively seen over twelve acquisitions this year and seems like the pattern is set to continue.

In the wake of acquiring four companies this year, Unacademy is in talks to assume control over another. The company is in talks to acquire Gurugram-based Swiflearn, say two sources mindful of the subtleties of the possible transaction.

“Unacademy is in late-stage talks to acquire Swiflearn in an arrangement worth $15-20 million,” said one of the sources on condition of namelessness.

According to sources, the transaction will be a blend of cash and stock.

Established by Abhinav Agarwal and Anand Bakode, Swiflearn is a full-stack online stage for academic courses which gives a customized learning experience to understudies. It currently focuses on the K-10 fragment and offers free and subscription-based classes.

“The two authors will join Unacademy alongside the colleagues,” said the second source who likewise mentioned secrecy. Entrackr couldn’t confirm the exact number of Swiflearn’s colleagues set to join the Bengaluru-based firm.

Certainly, the arrangement might appear or its terms change.

Questions shipped off Swiflearn didn’t elicit any prompt reaction while Unacademy’s co-originator and chief executive Gaurav Munjal declined to comment on the story.

According to Swiflearn’s site, it has in excess of 100 colleagues, more than 900 teachers and 1.24 lakh understudies on the stage. Concerning the company’s financial wellbeing, it had recorded operating income of Rs 62,000 in its first year of operations(FY20). During the period, it recorded a total consumption of Rs 61 lakh and incurred a deficiency of Rs 52.79 lakh.

This will be the eleventh acquisition for Unacademy since its inception. The SoftBank-backed company had acquired Handa Ka Funda, TapChief, NeoStencil, PrepLadder, Mastree, CodeChef, Coursavy, Kreatryx, Wifistudy and Rheo TV.

Most recently, Graphy, an Unacademy Group-claimed company, had acquired edtech stage Spayee for $25 million.

Four months prior, Swiflearn had brought $3 million up in pre-Series A round drove by Stellaris Venture Partners, Venture Highway, and outstanding heavenly messengers such as Varun Alagh, Ramakant Sharma and Alok Mittal. The startup has raised more than $4 million since its inception in 2019.

As far as the acquisition in the recent years, Unacademy is at standard with Byju’s which has assumed control more than 11 new companies since January 2020. In the mean time, a couple of acquisitions didn’t go according to Unacademy’s arrangement. The Munjal-drove company had closed down Mastree a year subsequent to acquiring the K12 learning stage and its acquisition talks with Adda247 additionally fell through because of undisclosed reasons.