[Funding Alert]: Noida Based Ed-tech Startup Becomes India's 101st Unicorn
- June 8, 2022
Date of Announcement: Tuesday, June 07, 2022
Investee Startup/Company: PhysicsWallah (PW)
Funding: $100 Million
Round of Funding: Series A
Investors Participated: Funding was led by WestBridge Capital and GSV Ventures
Valuation: $1100 Million or $1.1 Billion
Dilution: 100/1100*100 = ~9.09% (approx)
About PhysicsWallah: Physics Wallah was founded by Alakh Pandey was born and brought up in Prayagraj (Allahabad), Uttar Pradesh, India. He is the most famous young YouTuber from India. He began his Youtube journey in 2014 after his stint with various institutions as teacher, and uploaded videos regarding the study material and became a sensation with his teaching skills. Currently, Physics Wallah has 6.9 million subscribers on his YouTube channel. His teaching skills and making content easy for students made him a go to teacher for the aspirants. Alakh is also a motivational speaker, he always cheers up to every single student.
In 2019, website and mobile applicaton was launched for streamlining content and educational content in the form of lectures, videos, and notes with diversifying into multiple courses as a focus by Co-founders Akshay Pandey and Prateek Maheshwari. Over 10,000 students have enrolled for competitive exams preparation like NEET and JEE for session 2022-23. According to the platform, at least one out of every six medical students and one out of every ten engineering students in India are from PW.
Alakh Pandey, the Co-founder and CEO said "This latest development will help us further our vision and implement new initiatives to augment the learning journeys of students, thereby enabling them to reach new heights in their careers. Our commitment remains that every dollar spent in Physics Wallah is for the greater good of learners" in a statement to e-daily.
Purpose of Funding:
Through this funding, PhysicsWallah envisions to reach every corner of the country and connect with 250 million students by 2025, giving competition to its direct rivals like FIITJEE, Aakash Institute and Vidyamandir Classes.
Unlike other startups in the space which are laying off employees due to reasons being cited as funding winter, Physics Wallah which has offline presence known as PW Pathsahalas in various cities as well is not just EBITDA positive but profitable.
Sources: Econtent, news and blogs