Highlights:
• PhysicsWallah raised $1.1 billion, making it India’s 101st unicorn
• PhysicsWallah raised the fund from Westbridge and GSV Ventures
• Funds will be used for business expansion, branding, opening more offline learning centres
PhysicsWallah, a bootstrapped edtech startup, has raised $100 million in a Series A funding round from WestBridge Capital and GSV Ventures, valuing the company at a unicorn valuation, according to a statement released on June 7.
PhysicsWallah 101st unicorn
PhysicsWallah raised the funds at a valuation of $1.1 billion, making it India’s 101st unicorn, according to the company. Since April 2022, PhysicsWallah has become the second company to join the coveted unicorn club, compared to 11 in April-June 2021.
The funds will be used for business expansion, branding, the opening of more offline learning centres, and the introduction of new course offerings, according to PhysicsWallah.
Last month, Pandey, co-founder and CEO of PhysicsWallah, stated that the company will focus aggressively on the K-12 (kindergarten to class 12) segment, as well as make forays into executive education. Pandey had also expressed gratitude for the donation.
Company claims to provide India’s most affordable edtech packages
PhysicsWallah claimed to have 6.9 million YouTube subscribers and 5.2 million Google Playstore downloads. In 2020 and 2021, the company claims that over 10,000 students passed competitive exams such as NEET and JEE (medical and engineering entrance exams). According to PhysicsWallah, at least one student in every six medical schools and one in every ten engineering schools is a former student.
PhysicsWallah currently employs 1900 people, including 500 teachers and about 100 tech experts, according to the company. According to the company, it has 200 associate professors on staff to answer student questions and another 200 professionals to write exam questions and term papers.
