Indian edtech firm reaches unicorn status with $100m fundraise

PhysicsWallah has raised US$100 million in series A funding from investors Westbridge and GSV Ventures, taking the Indian edtech firm’s valuation to US$1.1 billion.

PhysicsWallah CEO Alakh Pandey / Photo credit: PhysicsWallah

Founded in 2020, PhysicsWallah offers live lectures and study materials for students preparing for various exams. Made available on a website, mobile app, and YouTube, its educational content is marketed as affordable and accessible.

The edtech company also operates more than 20 offline learning centers in 18 Indian cities.

The latest fundraise will be used for business expansion, such as opening more learning centers, developing more courses, and ramping up branding efforts.

“The company has been profitable since inception with positive cash flows and reserves,” says PhysicsWallah CEO Alakh Pandey. Revenue also grew ninefold year on year in 2021, he added.

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PhysicsWallah plans to launch more educational content in nine vernacular languages – Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada.  This expansion is part of its plan to reach more than 250 million students by 2025.

The company has a 1,900-strong workforce, including 500 teachers and close to 100 tech professionals. The platform has also teamed up with 200 associate professors who answer student questions, while another 200 professionals create exam questions.