Edtech company PhysicsWallah, also known as PW, has now become a unicorn with $100 million funds raised by the company in series A round from investors like Westbrige and GSV Ventures. The transaction values the company at $1.1 billion post-completion. PhysicsWallah is the latest Indian startup to enter the $1 billion club. PW that entered the Unicorn club, is the 1st company in 2022 to hit this milestone and the 101st company in India to achieve this height. With this new juncture, the company has entered the elite list of edtech unicorns like Byju's, Vedantu, Eruditus, and Upgrad. The company is the only profitable edtech unicorn at the moment. However, several experts believe that the edtech sector would be among the worst impacted sectors in the coming days as students have started going back to school.
Key Points |
1. In 2014, founder and CEO of PhysicsWallah Alakh Pandey started ‘PhysicsWallah’ as a YouTube channel.
2. Recognising the popularity of PhysicsWallah among students, Unacademy reportedly offered to hire him as a teacher with a salary of ₹40 crore per annum. However, Pandey rejected the offer and started building Physicswallah a profitable business.
3. The edtech company currently has over 20 centres across 18 cities with more than 10,000 students enrolled for 2022-23 academic year.
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4. PhysicsWallah also has over 5.2 million downloads on its application on Google PlayStore and around 6.9 million subscribers on YouTube.
5. PhysicsWallah is preparing to launch its content in 9 vernacular languages—Bengali, Hindi, Gujarati, Kannada, Malayalam, Odia, Tamil and Telugu as part of its growth plans.
6. The edtech company is helping students in their studies with 1,900 employees including 500 teachers and 90-100 tech experts. The company also has 200 associate professors to answer student queries and other 200 professionals for creating exam questions and term papers.
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7. According to PhysicsWallah, more than 10,000 of its students cracked NEET and JEE in 2020 and 2021.
