India-based ed tech platform PhysicsWallah (PW) has raised $100 million in a Series A funding round that took its valuation to $1.1 billion.
The round was co-led by Westbridge and GSV Ventures.
PW plans to use the capital to further boost its expansion, open additional learning centres and broaden its course offering.
“The company has been profitable since inception with positive cash flows and reserves,” said Alakh Pandey, founder and chief executive of PW. “Our revenue grew nine-fold in the year 2021-2022 vis-a-vis 2020-2021.”
PW provides exam preparation content, coaching, lectures and interactive classes. The company employs 1900 staff, including 500 teachers and 100 tech experts, and operates 20 centres across 18 cities with more than 10,000 students enrolled for its 2022-2023 session.
As part of its upcoming growth plan, PW intends to launch educational content in 9 vernacular languages, including Bengali, Marathi, Tamil, Telugu, Gujarati, Odia, Malayalam and Kannada and open 20 offline coaching classrooms across India.
Date Published: 7 June 2022