Physics Wallah becomes the 101st unicorn

Physics Wallah becomes the 101st unicorn

Physics Wallah, an edtech platform for engineering and medical admissions, has raised $ 100 million in a Series A funding round (about. With this development, the company is India’s 101st unicorn and was coveted this year. Unicorn Club (A Noida-based online learning platform uses these funds to grow business, and brand, open more PW learning centres and offer more Use courses. PW currently has 5.2 million.

 Has Android Downloads and 6.9 Android Downloads. 1 Million Subscribers on YouTube. Physics Wallah (PW) was launched during the 2020 outbreak to prepare students for engineering and medical entrance exams. Is aimed at. Founded by Alakh Pandy and Prateek Maheshwari, PW specializes in providing comprehensive lectures and sessions on YouTube,  PW apps and websites for students pursuing NEET and JEE Mains. 

The edtech platform enables interactive educational content in the form of lectures and audiovisual media. In 2020 and 2021, more than 10,000 students passed competition exams such as NEET and JEE. According to the company’s statement, the platform claims that at least one student from six medical colleges and ten engineering departments in India is a PW graduate. “This latest development will help us advance our vision, improve student journeys and implement new initiatives to enable them to reach new heights in their careers. 

Alakh Pandy, PW’s founder and chief executive officer, said: Sandeep Singhal, Managing Director of WestBridge Capital, said: However, recent developments directly demonstrate the importance of an efficient edtech infrastructure. PW brings long-term value to learners by providing quality education at democratic prices. PW is one of the few start-ups that understands the education  India needs today. We are excited about the founders’ focus on student learning outcomes and look forward to a long partnership with them. “

 According to Pandey, the company has been profitable with positive cash flow and reserves since its inception. The company’s revenue is projected to grow nine-fold year-on-year in 2010 to $ 65 million in 2011, which ends in March next year.  In 2016, PW first launched as Alakh Pandy’s YouTube channel. During the 2020 pandemic, Alakh worked with Prateek Maheshwari on a technology solution for students by launching the PW app. The company currently has more than 85,000 subscribers.  PW said it aims to connect with more than 250 million students and reach all parts of the country by 2025.

The Educational Technology Company currently has 1,900 employees, including 500 teachers and 90,100 technical professionals. There are also  200 associate professors available to answer student questions and another 200 experts to prepare exam questions and assignments. The fundraising comes at a time when there is a major outflow and funding crisis in the field of education and engineering, leading to mass and temporary dismissals. As the youngest unicorn in the education engineering sector, Physics Wallah is now joining the ranks of other companies such as Byju`s, Unacademy, Vedantu, Lead School and upGrad.

 “Many experts say that the heyday of education and engineering technology in India is over, but at GSV Ventures, good entrepreneurs have learned skills in 90% of India unaffected by the education and engineering revolution. As we democratize our offerings, we believe that flowers have begun to bloom. The company (PW) is revolutionizing the test readiness market (now JEE and NEET) and offering cost-effective solutions. “Deborah Quazzo, the Managing Partner of GSV Ventures, said.

Physics Wallah, an eight-year-old education and engineering company, joins the Unicorn Club as a major Indian education and engineering company faces a slowdown in funding and seeks ways to reduce costs, 101 in India. It became the second unicorn. The bootstrap education company raised $ 100 million in its first funding round, led by WestBridge Capital and GSV Ventures, and is currently valued at $ 1.1 billion. Unicorn is a private startup with a valuation of over $ 1 billion. Other Indian educational technology unicorns are Byju`s, Unacademy, Eruditus, Vedantu, UpGrad and Lead School.

Physics Wallah, the latest entrant to the Unicorn Club, plans to use this money to expand its business, establish its brand, open more offline learning centres and offer more courses on Tuesday. Said in a statement. “This latest development will help us advance our vision and implement new initiatives to expand our students’ learning paths and enable them to reach new heights in their careers. We continue to promise that all the dollars spent on Physics Wallah are in the interests of learners, “co-founder Alakh Pandey reportedly said to Economic Times.

Edtech also aims to launch educational content in nine spoken languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam and Kannada.

 This is part of expanding into every corner of the country, connecting  250 million students by 2025. Founded in 2016 by Alakh Pandy and Prateek Maheshwari, Edtech prepares students for competitive engineering and medical entrance exams. We offer extensive lectures and sessions on YouTube and specialize in distributing them through our own Physics Wallah app and website. Physics Wallah employs approximately 1,900 people, including 500 teachers and 90,100 technical professionals, and operates 20 offline centres in 16 cities.

“Since its inception, the company has been profitable with positive cash flow and reserves. Sales from 2021 to 2022 have increased nine-fold compared to 2020 to 2021. The execution rate is $ 65 million, “said the co-founder. Edtech’s company PW (commonly known as Physics Wallah) has raised $ 100 million in Series A funding from Westbridge and GSV Ventures. This makes it the  101st unicorn in India and the second educational technology player to reach this milestone.  According to PhysicsWalla, the deal rates the company at $ 1.1 billion on Post money.

Entrackr reported for the first time the exact details of the first funding by Physicswallah in March. The company plans to use these funds to expand its business, and brand, launch more PW learning centres and add new courses to its portfolio, Physicswallah said in a press release. Physics Wallah was founded by Alakh Pandey in 2016 and was later joined by Prateek Maheshwari. Physics Wallah offers online and offline courses and study materials for JEE, NEET and other engineering entrance and state exams.

The platform offers live classes, video lectures, test series and dynamic exercises for the above exams.

The company currently employs 1,900 people, including 500 teachers and 90,100 technical professionals. In addition, 200 associate professors can answer student questions and an additional 200 experts can be used to prepare exam questions and assignments. In addition to YouTube and applications, PhysicsWallah also operates 20 offline centres in 16 cities such as Delhi, Bhopal, Varanasi, Lucknow, Pune, Patna and Ranch.

He has about 7 million subscribers to his YouTube channel. Unlike venture capital-backed educational technology companies, Physics Wallah reported a profit of Rs. 6.92 billion in FY2009, according to its financial statements. The platform generated operating revenues of Rs. 2.46 billion for the fiscal year, and recently claimed that revenues doubled to Rs. 35 billion in 2010. PhysicsWallah is the second bootstrap education company that raised a large amount of money from institutional investors in 2022.

Earlier this month, Kota-based ALLEN Career Institute received $ 600 million from BodhiTree Systems. BTS is a new platform formed between James Murdoch, Founder and CEO of Lupa Systems, and Uday Shankar,  former President of  Walt Disney Company the Asia Pacific. Entrackr first reported on the development in January.

edited and proofread by nikita sharma