[Funding Alert] Edtech Startup PhysicsWallah turns Unicorn with WestBridge and GSV led $100 Mn Series A Funding

Physics Wallah alakh pandey

Edtech startup PhysicsWallah has raised $100 million as a part of its Series A funding round from WestBridge Capital and GSV Ventures, at a unicorn valuation, the company said in a statement.

PhysicsWallah raised the money at $1.1 billion valuation, becoming India’s 101st unicorn, the company said. PhysicsWallah becomes the second company to join the coveted unicorn club since April this year, against 11 in Apr-Jun 2021.

PhysicsWallah said it plans to use the funds for business expansion, branding, opening more offline learning centres, and introducing more course offerings, the company added.

PhysicsWallah was started in 2016 as a Youtube Channel by Alakh Pandey. It serves the enthusiasts with subjects of science to materials essential to perform in Competitive Exams. In 2020, it was incorporated as a company by Alakh Pandey and Prateek Maheshwari and ran in bootstrapped manner.

PhysicsWallah said it currenty has 1900 employees, including 500 teachers and about 100 tech experts. The company also has 200 associate professors available to answer student queries and another 200 professionals to create exam questions and term papers, it said.

PhysicsWallah said it is looking to launch educational content in nine vernacular languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada. The company said its aim is to connect with 250 million students by 2025. 

PhysicsWallah will also be opening 20 offline coaching classrooms, which it calls as Pathshala, across India, the company said. PW has established more than 20 centres across 18 cities with more than 10,000 students enrolled for 2022-2023 session.

Alakh Pandey, Founder and CEO of PhysicsWallah, 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.

We have been profitable since our inception and has positive cash flows and reserves. In FY22, our revenue rose nine-fold. The current run rate for FY23 is $65 million.”

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.”

With the latest fundraise, PW joins the likes of BYJUs, Unacademy, Emeritus, upGrad, Vedantu and LEAD, the Ed-Tech Unicorns from India so far.

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