At a time when some of India’s top edtech unicorns are facing a slowdown in funding and looking at ways like layoffs to curb costs, the online education platform Physics Wallah has brought some good news.
PW (PhysicsWallah), an edtech platform, has become India’s 101st unicorn after raising US$ 100 million in Series-A funding from Westbridge and GSV Ventures. Following the transaction, the company was valued at US$ 1.1 billion.
So far, the company has been bootstrapped, so the series A funding is the first time outside investors have come on board.
PW plans to use the funds for business expansion, branding, the opening of additional learning centres, and the introduction of new courses. PW currently has 5.2 million Play Store downloads, a 4.7 rating, and 6.9 million YouTube subscribers.
PW is already planning to launch educational content in nine vernacular languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam, and Kannada, as part of its future growth plans.
The core idea behind this step is to reach every corner of the country and connect with 250 million+ students by 2025. The firm looks to bridge the accessibility gap by opening 20 offline coaching classrooms, called ‘Pathshala’, across India.
PW already has established more than 20 centres across 18 cities, with more than 10,000 students enrolled for the 2022-23 session.
