Edtech

Unacademy Co-Founders Gaurav Munjal and Roman Saini Step Down to Focus on Airlearn

• ByStartupStory     |    May 29, 2025

In a significant leadership shake-up at Indian edtech unicorn Unacademy, co-founders Gaurav Munjal and Roman Saini are stepping away from their day-to-day roles to concentrate on Airlearn, the company’s burgeoning language learning app. According to sources familiar with the matter, the move marks a strategic pivot for the founders as Unacademy faces mounting challenges in its core business.

Sumit Jain, Founder of Graphy—which was acquired by Unacademy and who was elevated to co-founder status in 2023—is expected to take over operational leadership of the edtech firm, according to sources. The Economic Times, which first reported the development, noted that Munjal and Saini’s departure follows over a year of internal deliberations with Unacademy’s board and shareholders regarding the company’s future.

This transition comes months after The CapTable reported early signs of the leadership exit in September 2024, which were denied at the time by all board members and founders, stating, “these are baseless rumours.” Meanwhile, co-founder Hemesh Singh had already stepped back from his role as Chief Technology Officer in June 2024, transitioning into an advisory capacity.

Strategic Shift Amid Declining Revenue

The co-founders’ exit coincides with Unacademy’s intensified focus on offline learning centers to counter the post-pandemic slowdown in its online test preparation vertical. Despite efforts to revive growth, merger talks with major players like Allen and Aakash fell through, reportedly due to disagreements over valuation. The CapTable further revealed that discussions with other firms such as PhysicsWallah and larger educational entities were also explored, as investors continued to push for an acquisition.

In a July 2024 social media post, Gaurav Munjal had acknowledged, “the edtech company had engaged in exploratory merger talks with other market players.”

Despite cutting overall expenditure by 40.5% year-on-year in FY24, Unacademy’s operating revenue declined by 7.4%, indicating persistent hurdles. The company reported a consolidated loss of ₹630.9 crore in FY24, down 62.4% from ₹1,678.1 crore in FY23. Its FY25 financials are yet to be filed.

Leadership Turmoil

The company has seen considerable churn at the senior leadership level over the past year. Hardik Pandya, Senior Vice President of Design and Product, left the company in November 2024 after a four-year tenure. In October, Arooshi Singh was promoted to Head of HR, replacing Sandhydeep Purri who had joined as Chief People Officer in late 2023.

Other notable exits include:

Arnab Dutta, Senior Vice President

Subramanian Ramachandran, Chief Financial Officer

Vivek Sinha, Chief Operating Officer

Abhyudaya Rana, Vice President and Chief of Staff at the CTO’s Office

Airlearn: The New Frontier

Amidst these developments, Munjal and Saini are shifting their attention to Airlearn, a language learning app developed under the Unacademy Group. The app, launched in India in June 2024, is being positioned as a direct competitor to global players like Duolingo and Babbel.

Munjal has frequently promoted the app on social media, referring to it as the fastest-growing product within the Unacademy Group. According to his statements, Airlearn has achieved nearly 70,000 daily active users and clocked $2 million in annual recurring revenue over the past year.

“It makes sense for Unacademy and Gaurav (Munjal) to hive it (Airlearn) off. That’s how he can raise new funds for it and run it as a separate startup with a lot more freedom,” The CapTable reported last September, quoting a venture capital investor. “But it would have made more sense if Unacademy was settled and then Gaurav had looked to expand with another entity. Right now, if Gaurav hives it off and starts running it, then the main Unacademy business, which is already facing a lack of vision, will further struggle.”

The app is expected to be spun off into a separate entity, potentially allowing it to raise independent capital and operate as a standalone startup. Unacademy has not yet responded to media queries about the current leadership transition or plans for Airlearn.

A Decade of Building

Founded in 2015 by Munjal, Saini, and Singh, Unacademy rose to prominence during the pandemic, becoming one of India’s most valued edtech platforms. The company has raised over $800 million from investors including SoftBank, General Atlantic, and Tiger Global. However, the recent developments mark a pivotal turning point for the company as it navigates the next phase of its journey under new leadership.

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