Physics Wallah, a unicorn edtech now, announced on Tuesday it has secured $100 million in Series A funding to expand its business, open more learning centres, and introduce more courses.
The startup raised the funding from UK-based Westbridge and GSV Ventures, a global VC fund focused on digital education, at a valuation of $1.1 billion.
“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,” said Alakh Pandey, Founder and CEO of PW (Physics Wallah) .
Pandey added that 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. The current run rate for FY23 is $65 million.
“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,” said Sandeep Singhal, Managing Director of WestBridge Capital. PW began as a YouTube channel by Alakh in 2016.
Physics Wallah aims to set up 20 offline coaching classroom in India by 2025
In 2020, it was officially incorporated by Alakh Pandey and Prateek Maheshwari. The startup helps students prepare for engineering and medical entrance exams by providing them with affordable guidance.
It has 1,900 employees, including 500 teachers, as well as 200 associate professors. On the Google Play Store, the PW app has 5.2 million downloads, while the YouTube channel has 6.9 million subscribers.
PW is looking to open 20 offline coaching classrooms across India, and is already on track to launch its educational content in nine vernacular languages. It aims to enrol 250 million-plus students by 2025 on the platform.
PW (Physics Wallah) joins India’s six other edtech startups—BYJU’S, Unacademy, Emeritus, upGrad, Vedantu and LEAD— in the unicorn club.