Indian edtech PhysicsWallah Becomes $ 100 M Series Unicorn

The Indian startup in the field of edtech, which has established itself in smaller Indian cities and towns with its cheap educational offers, is the newest member of the fast-growing unicorn club in the country.

PW, or PhysicsWallah, has raised $ 100 million to fund Series A, the startup said Tuesday. Westbridge and GSV Ventures financed the first institutional round of the startup, which valued the two-year-old company at $ 1.1 billion (after the money was paid out).

Unlike its larger competitors, who charge users up to tens of thousands of dollars, PW charges students only $ 4 and, according to a person familiar with the matter, has accumulated tens of thousands of paying subscribers.

“Since our inception, we have focused on providing high quality education at the forefront to ensure that students from all walks of life can pursue higher education and enhance their careers without difficulty,” said Alakh Pandey, Founder and CEO of PW , in the statement.

“This latest development will help us deepen our vision and implement new initiatives to expand students’ learning pathways, enabling them to reach new heights in their careers. Our commitment remains “every dollar spent on PW is for the greater good of the students.”

The success of the startup comes at a time when several established players in the field of edtech are facing problems and have reduced their workforce in recent weeks.

PW represents a broader shift in India’s startup ecosystem. Urban India – or “India1”, as categorized by venture capitalist Sajith Pai, seems to be largely crowded out and only a few opportunities remain. So it should come as a little surprise that PW was one of the hottest offers that many VCs have been chasing for several quarters.

PW, which runs both online and offline courses, said it plans to use the new funds to open more physical education centers and expand its offerings for students.

“PW currently has 5.2 million downloads in the Play Store with ratings of 4.7 and 6.9 million subscribers on YouTube. With the help of comprehensive, interactive and engaging PW educational content in the form of lectures, videos and notes, in 2020 and 2021 more than 10,000 students passed competitive exams such as NEET and JEE. The platform proudly boasts that at least one student in six medical schools and one in ten technical universities in India are PW graduates, “said the startup.

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