Ed-tech platform Physics Wallah (PW) has raised $100 million in its Series A funding round from UK-based Westbridge and GSV Ventures, a global VC fund focused on digital education.
Following this funding round, the company is estimated to be valued at $1.1 billion. With this Physics Wallah joined the unicorn club as the 101st.
The startup plans to use the funds to expand its business, open more learning centers and start more courses.
Founded in 2016 by Alakh Pandey and Prateek Maheshwari, it was earlier started as a YouTube channel. PW helps students prepare for engineering and medical entrance exams by providing affordable guidance.
Its platform has 1,900 employees, including 500 teachers as well as 200 associate professors.
Physics Wallah has 5.2 million downloads on the Google play store, while the YouTube channel has 6.9 million subscribers.
“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.
Alakh also said that PW has been profitable since its inception and has positive cash flows and reserves.
He claimed that in FY22, the startup’s revenue grew nine times and the current run rate for FY23 is $65 million.
The company is looking to open 20 offline coaching classrooms across India, and is already on track to launch its educational content in nine local languages. The company aims to enroll over 250 million students on the platform by 2025.
“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.
About PW (Physics Wallah)
Physics Wallah family has crossed over 6M+ students and is continuously raising its bar in the field of education, giving everything that students need with best-in-class faculty to support them in achieving their dreams. Observing the financial implications of many enrolling in expensive online courses, Physics Wallah focuses on providing affordable education to help students ace various entrance exams.
In the era where education has become business when it comes to coaching for engineering and medical aspirants, Mr. Alakh Pandey AKA Physics Wallah aims to provide high-quality and affordable educational content free of cost or minimal cost. Alakh Pandey has been paving the way for millions of students through his YouTube Channel and Physics Wallah App/Website on which the team provides lectures for, NEET, JEE Mains, and Advanced level preparation.At Physics Wallah, students can opt from various batches such as Lakshya, Prayas and Manzil. These are divided based on the level of the student aided by all-inclusive, batch-specific study material with a focus on concept development.
“education for all, regardless of their socioeconomic status” They provide premium education to all by offering a variety of learning options through their batches to meet all of their students.