SynopsisSumit Jain has stepped down from his role in Unacademy, ahead of a potential merger with upGrad Education. Jain, who joined Unacademy in 2020, will continue as an advisor. His departure follows the companies filing for merger approval with the Competition Commission of India.ET BureauSumit Jain, who had been elevated as cofounder and CEO of Unacademy's test-prep business last year, has stepped down from his role ahead of the company's planned merger with Ronnie Screwvala's upGrad Education.Jain, who had joined Unacademy in 2020 after the SoftBank-backed edtech bought Graphy, will continue as an advisor, the company's co-founder and CEO Gaurav Munjal told employees in an internal note. ET has reviewed the note.Jain’s departure comes amid both companies filing for a merger with the country's antitrust regulator, the Competition Commission of India.ET had previously exclusively reported that upGrad was buying Unacademy for around Rs 2,055 crore, less than a tenth of its previous private market value."Sumit built two strong pillars for Unacademy. First is Graphy, which is a growing profitable business for us. His acquisition of Spayee and then merging the same with Graphy and then scaling it was really needle moving for Unacademy Group," Munjal said in the note. "And then he helped make our Offline Business Profitable with a focus on Unit Economics and eventually converting them to Franchisees." ...moreElevate your knowledge and leadership skills at a cost cheaper than your daily tea.Subscribe Now