Edtech Startup PhysicsWallah Raises $100M In Series A, Joins Unicorn Club
PhysicsWallah (PW), an edtech platform, has raised $100 million in a Series A funding round from UK-based Westbridge and GSV Ventures, a global VC fund focused on digital education, at a valuation of $1.1 billion.
With this funding, PW has become India’s 101st unicorn and joins India’s six other edtech startups— BYJU’S, Unacademy, Emeritus, upGrad, Vedantu and LEAD — in the unicorn club.
The edtech platform will use the funds to expand its business, open more learning centres, and introduce more courses.
PhysicsWallah | Providing Affordable And Comprehensive Learning Experience
Started as a YouTube channel by Alakh Pandey in 2016, PW got officially incorporated by Alakh Pandey and Prateek Maheshwari in 2020. Physics Wallah helps students prepare for engineering and medical entrance exams by providing affordable guidance.
Speaking about the development, Alakh Pandey, Founder and CEO of PW, said,
“Since its inception, we have focused on delivering high-quality education with affordability at the forefront, ensuring that learners from all walks of life can continue their higher education and boost their career trajectory without any hassles.”
As per Alakh, PW has been profitable since its inception and has positive cash flows and reserves. In FY22, the startup’s revenue rose nine-fold, claimed Alakh, while adding that the current run rate for FY23 is $65 million.
Presently, PhysicsWallah has 1,900 employees, including 500 teachers as well as 200 associate professors. Its YouTube channel has 6.9 million subscribers, and on the Google Play Store, the PW app has 5.2 million downloads.
Commenting on the development, Sandeep Singhal, Managing Director of WestBridge Capital, said,
“PW creates long-tail value for learners by delivering high-quality education at a democratic price. PW is one of the rare startups with a profound understanding of the education that BHARAT today needs.”
Now, the edtech platform is looking to open 20 offline coaching classrooms across India. PW is already on track to launch its educational content in nine vernacular languages and aims to enrol 250 million-plus students by 2025 on the platform.
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