Other educational technology unicorns include Byju’s, Unacademy, Eruditus, Vedantu, UpGrad, and Lead School.
Startups plan to use the funds to expand their business, brand, open more offline learning centers, and introduce more course offerings as stated in the prepared statement.
Physics Wallah also plans to launch educational content in nine languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam and Kannada. The central idea behind this is to go to every corner of the country and connect with 250 million people. The company said it would have students by 2025 at the startup.
“This latest development will help us implement new initiatives to promote our vision and enhance our students’ learning journeys, thereby enabling students to reach new heights in their careers. Our commitment that all dollars spent on Physics Wallah is for the greater benefit of learners remains unchanged, “said Alakh Pandy, co-founder of Physics Wallah.
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Founded in 2016 by Pandy and Prateek Maheshwar, Physics Wallah prepares students for competitive engineering and medical entrance exams. The company currently claims that more than 10 million students are using the service.
“India’s education and engineering ecosystem has grown significantly over the last two years, but recent developments have demonstrated the direct importance of an efficient edtech infrastructure. Physicas Wallah is democratic. We create long-tailed value for our learners by providing quality education at a price, “said Sandeep Singhal, Managing Director of WestBridge Capital.
Physics Wallah specializes in providing comprehensive lectures and sessions on YouTube, with its own Physics Wallah app and for students wishing to take the National Eligibility Entrance Test (NEET) and Joint Entrance Exam (JEE) main exams. It is distributed through the website of. In addition to YouTube and applications, we also operate 20 offline centers in 16 cities.
The edtetch startup currently has 1,900 employees, including 500 teachers and 90-100 technical professionals. There are also 200 associate professors available to answer student questions and another 200 experts to prepare exam questions and term papers.
“Since its inception, the company has been profitable with positive cash flow and reserves,” said Pandy. “Our revenue doubled from 2021 to 2022 compared to 2020 to 2021. The current execution rate for 2023 is $ 65 million,” he added.
The investment will be made when India’s top education and engineering unicorns are facing a slowdown in funding and are looking at ways to keep costs down and increase runways. Over the past few months, large edtechs, including Unacademy and Vedantu, have fired employees to extend the runway.
Last month, Unacademy founder Gaurav Munjal recently fired more than 1,000 on-roll and contract staff and emailed employees “winter is here.” At least the next 12-18 months.
In the first week of June, edtech startup Udayy shut down its business and fired about 100-120 employees due to a slowdown in business after the opening of offline schools and kindergartens. Even small startups such as Lido Learning and Frontrow have fired a few employees because investors are taking a cautious approach to helping them.
Several educational technology companies are currently challenging hybrid learning models that include both online and offline learning to combat post-pandemic slowdowns and school openings. Physics Wallah operates more than 20 offline centers in 18 cities and has more than 10,000 students enrolled in sessions from 2022 to 2023.