With $170 million in cash reserves and no debt, Unacademy reportedly has a financial runway exceeding four years, Gaurav Munjal said.
'Amit Sachdeva joins PW’s leadership to support financial oversight and planning through strategic insights at Physics Wallah,' says the ed tech unicorn
The SC on Tuesday issued a notice to the Centre and NTA over a petition seeking to cancel the results of the NEET-UG 2024, a competitive entrance test for undergraduate medical courses, amid allegations that the paper was leaked.
Physics Wallah also motivated Indian students to contribute to the nation's development either directly or indirectly while speaking at Harvard University, Stanford University and the University of California.
The funding winter for edutech is real — the shock from Byju’s collapse is still playing out. Players are looking to marry the scale of cloud computing with the classroom clout of charismatic, million-dollar tutors to create a winning hybrid. A coaching-centre heavyweight like Allen building digital muscle or an internet sensation like PhysicsWallah entering the brick-and-mortar world could work, provided companies don’t eplicate Byju’s hyper-aggressive sales machine or spend as lavishly as it did on unrelated acquisitions
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The partnership involves strategic equity and cash investments in Xylem and scaling up operations; and will strengthen the presence of Physics Wallah (PW) in the southern market.
Courses are offered in Hindi, English and Hinglish, with nearly 30,000 learners hailing from the Hindi heartland, encompassing regions such as Uttar Pradesh, Bihar, Madhya Pradesh, and other states.
The company in a statement shared that it has provided scholarships worth USD 12 million (about Rs 98 crore) through PW Scholarship and Admission Test (SAT) in the 2023-24 academic year to meritorious students and also those who cannot afford quality offline education.
The development comes at a time when massive lay-offs have been announced by several edtech companies including Byju's, Unacademy, Vedantu, FrontRow etc in the past one year.
With its newly-secured $100 million funding, Edtech startup Physics Wallah is looking to expand its business by opening more offline centres and introducing courses in vernacular languages