Bootstrapped edtech startup PhysicsWallah has raised $100 million as a part of its Series A funding round from WestBridge Capital and GSV Ventures, at a unicorn valuation, the company said in a statement on June 7.
PhysicsWallah raised the money at $1.1 billion valuation, becoming India's 101st unicorn, the company said. PhysicsWallah becomes the second company to join the coveted unicorn club since April this year, against 11 in Apr-Jun 2021.
PhysicsWallah said it plans to use the funds for business expansion, branding, opening more offline learning centres, and introducing more course offerings, the company added.
Moneycontrol had done an exclusive interview with Alakh Pandey, co-founder and chief executive officer of PhysicsWallah last month and Pandey had said that the company will look to focus aggressively on the K-12 (kindergarten to class 12) segment and will also make forays into executive education. Pandey had also acknowledged the fundraise.