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PW raises $100 million in Series-A fundraising, becoming India’s 101st unicorn

During a time when many educational technology (edtech) start-ups are feeling the strain of acquiring financing and looking to lay off employees to save money, edtech platform PhysicsWallah (known as PW) has raised $100 million in Series A funding from West Bridge Capital and GSV Ventures.

Know All about PhysicsWallah, aka PW

Alakh Pandey and Prateek Maheshwari founded PW in 2020 with the goal of helping students prepare for competitive exams (prep). In 2016, the two co-founders launched a YouTube channel, and by 2020, they had developed the app and website.

PW is also profitable, unlike many other edtech companies. Revenue for 2020-21 was Rs 24.52 crore, and profit for 2020-21 was Rs 6.93 crore, according to regulatory filings.

PW, unlike other edtech platforms like Byju’s and Vedantu, has already developed more than 20 centres across 18 cities, with more than 10,000 students enrolled for the 2022-23 (FY23) session, unlike other edtech platforms.

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PW offers lectures, videos, and notes in the form of educational content. As of 2020 and 2021, over 10,000 students have succeeded in standardised tests such as the National Eligibility Entrance Test and the Joint Admissions Examination.

Furthermore, according to the platform, at least one-sixth of all medical students and one-tenth of all engineering students in India hail from Punjab and West Bengal (PW).

The company currently employs 1,900 people, including 500 educators and 90-100 IT professionals. Another 200 academics are on hand to assist students with any questions they may have, in addition to the university’s 200 associate professors.

When PW expands, it will provide instructional content in nine regional languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada as part of its future growth initiatives.

The fundraising

After the deal was completed, the company was worth $1.1 billion. When it comes to fundraising, Series A represents the company’s first venture into external investors. Allen Career Institute in Kota, India, raised $600 million from Bodhi Tree Systems, making it the second bootstrapped company to raise a sizable amount in Series A.

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PW plans to utilise the money to expand its business, advertise itself, build additional learning centres, and provide new courses.

In the Google Play store, PW has 5.2 million downloads and a 4.7 rating, with 6.9 million members.

Conclusion

By 2025, the goal is to reach every corner of the country and establish direct contact with more than 250 million kids. By opening 20 ‘Paathshalas’ (offline coaching classrooms) across India, the company aims to close the accessibility gap in the market.

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