With GATEWallah, PhysicsWallah enters PG test preparation race
- ByStartupStory | September 28, 2022
According to a statement released by PhysicsWallah on Wednesday, the edtech unicorn has entered the test preparation market for postgraduate students preparing for the Graduate Aptitude Test in Engineering (GATE) exams.The new vertical GATEWallah, which is supported by Westbridge and GSV Ventures, will be run by a team that includes IITians, former IES officers, and GATE under-ten rank holders, among others.
PhysicsWallah (PW), which was established in the midst of the epidemic in 2020, helps students get ready for engineering and medical admission exams. Alakh Pandey and Prateek Maheshwari founded PW, which focuses on providing thorough lectures and sessions for students aiming to take the NEET and JEE Mains via YouTube, the PW app, and the website.
The edtech platform makes interactive lectures and other audio-visual materials for education more accessible. Over 10,000 students passed competitive exams like NEET and JEE in 2020 and 2021.
“With this new endeavour, we will also be empowering the graduates. We have been servicing undergraduate categories and are achieving outstanding outcomes. We are starting with GATE since the undergraduate students who have been affiliated with PW for a long time asked us to launch programmes in PG categories.With the reopening of offline educational institutions, the edtech business, which grew during the pandemic as instruction shifted online, has experienced a severe funding shortage and a moderation in values.
Several businesses have turned to mass layoffs and cutting back on discretionary expenditure in an effort to save costs. But PhysicsWallah has seen an improvement in things.The unicorn purchased FreeCo, a business providing resource management and doubt-solving services, last month for an undisclosed sum. A privately held startup valued at $1 billion or more is referred to as a unicorn.
After becoming a unicorn in June and raising $100 million in its Series A investment round from notable investors Westbridge and GSV Ventures at a valuation of $1.1 billion, it was the company’s first acquisition.
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