Physics Wallah Announces Rs 100 Crore Investment to Strengthen UPSC Offering

• ByStartupStory     |    May 9, 2023

Physics Wallah, a leading Edtech company, is set to invest Rs 100 crore in enhancing its UPSC offerings. The company’s UPSC vertical comprises online platform UPSC Wallah and offline segment PWOnlyIAS, with the latter having recently opened its first centre in Delhi’s Rajinder Nagar. The investment will strengthen Physics Wallah’s position in the highly competitive UPSC market.

According to Alakh Pandey, the Founder and CEO of Physics Wallah, “the company’s foray into offline centres was prompted by the success of its online platform, UPSC Wallah”. Pandey stated that “the company has received enthusiastic support from the civil services aspirant community and is committed to guiding them towards success. With this new investment of Rs 100 crore, Physics Wallah is poised to further solidify its position as a leading provider of UPSC preparation resources”.

With its offline segment PWOnlyIAS, the company aims to extend its reach to over three lakh aspirants across more than 10 cities in the next three years. This move is aimed at capturing a significant 20% market share of PW UPSC aspirants and consolidating Physics Wallah’s position as a top provider of UPSC preparation resources.

In a bid to bolster its offline coaching offerings, Physics Wallah recently launched 50 centres across India, with a $10 million investment in technology innovation. While the pandemic has accelerated the adoption of online learning, edtech firms are now envisioning a hybrid future as the world moves towards post-pandemic normalcy. 

At a time when many edtech unicorns are facing financial difficulties and scaling back their expansion plans, Physics Wallah is bucking the trend. The profitable edtech startup has reported a 14-fold increase in revenue for the fiscal year 2021-22, and Co-founder Prateek Maheshwari expects the unicorn to achieve a “sizeable profit” for the just-concluded 2023 financial year. 

With a three-fold increase in revenue to around Rs 780 crore ($95 million), Physics Wallah is on a strong growth trajectory. For the current financial year (FY2023-24), the company is targeting a group-level revenue of Rs 2,500 crore ($300 million), underscoring its ambitions to become a major player in the edtech space.

Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.

Follow Startup Story