The Edtech Company PhysicsWallah is a genuine example of hard work, passion, patience, and definitely determination that leads an eight-year-old Indian edtech startup to the unicorn’s club with Byju’s, Vedantu, Eruditus, and Upgrad. While India’s other top edtech companies like Unacademy, Vendantu, and FrontRow just cut off 10-30% of their workforce to extend their runway, there this company has raised $100 million just in a Series A round from Westbridge and GSV Ventures.
PhysicsWallah or PW was valued at $1.1 billion after ending the transaction. PW is now the second bootstrapped company that raise a substantial amount in a Series A after Kota-based Allen Career institute and collected around $600 million from Bodhi Tree Systems. This Indian startup is the 101st company in India to achieve this distinction.
PW was founded by Alakh Pandey and Prateek Maheshwari in 2020. At first, they focused on competitive exam preparation. In 2014, Alakh Pandey started his YouTube channel ‘PhysicsWallah’. After watching his popularity among all of the students, Unacademy offered him to work as a teacher
with a sky-high salary of Rs.40 Crore per annum. He rejected the offer and made a bootstrapped, profitable business out of PhysicsWallah with two co-founders of the application and website in 2020. In 2020-21 he had generated a revenue of Rs. 24.52 crore and profits are around Rs. 6.93 crore.
The founder and CEO of PhysicsWallah, Alakh Pandey said, “This latest development will help us further our vision and implement new initiatives to augment the learnings journeys of students, thereby enabling them to edtech new heights in their careers,”
Currently, PhysicsWallah has more than 20 centers over 18 cities along with more than 10,000 students already enrolled for the course of the 2022-23 academy year. It had got 5.2 million downloads on the application on Google PlayStore and 6.9 million subscribers on YouTube. The company employed 1,900 people, including 500 teachers, 90-100 tech experts, 200 associate professors to answer student queries, and 200 professionals to set exam papers.
Alakh Pandey also added, “The company has been profitable since inception with positive cash flows, and reserves. Our revenue grew 9-fold in the year 2021-22 vi-a-vis 2020-21. Our content run-rate for FY23 is at $65 million,”
They have planned to use their capital for business expansion, branding, opening more learning centers, and also bringing more profitable course offerings. As a growing plan, PW is gearing up such educational content to be available in nine languages containing Bengali, Marathi, Tamil, Telugu, Gujrati, Odia, Malayalam, and Kannada. We believe that the edtech company soon reach its aim to connect over 250 million students by 2025.
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