Prateek Maheshwari, the Co-Founder of Physics Wallah (PW), has been instrumental in the remarkable evolution of Alakh Pandey’s YouTube channel into the thriving tech venture that the PW app is today. This revelation is drawn from Pandey’s own accounts, underscoring Maheshwari’s pivotal role in this transformation.
Based in Noida, Uttar Pradesh, India, PW, established in 2020 by Alakh Pandey and Prateek Maheshwari, has rapidly ascended to unicorn status by June 2022. The educational tech company achieved a valuation of $1.1 billion following a substantial $100 million investment.
The financial success
The financial success of Physics Wallah (PW) has elevated both Prateek Maheshwari and Alakh Pandey into the ranks of the wealthy, with a combined personal net worth of Rs 4000 crore. PW’s financial performance over the past three years has been impressive, showcasing a substantial fourfold increase since FY2022. Starting at Rs 234 crore in FY22, the ambitious edtech giant has seen remarkable growth, with revenues reaching Rs 780 crore in FY23. PW now sets its sights on a bold target, aiming to cross the Rs 2400 crore revenue milestone in FY24.
Prateek Maheshwari brings a wealth of experience in the fields of educational technology and food & beverage. With a strong entrepreneurial background, his skill set encompasses various domains, including Operations Management, Entrepreneurship, Manufacturing, Management, and Lean Manufacturing. His professional journey includes founding and managing companies like PenPencil and Night Panda, with a notable educational background as an IIT graduate.
In a remarkably short time frame, Physics Wallah (PW) has surged in value, currently standing at a substantial $1.1 billion, equivalent to over Rs 9,000 crore. This achievement has firmly established PW as a prominent contender in a fiercely competitive market, where it competes alongside well-known rivals such as Byju’s, Vedantu, and Unacademy.
Alakh Pandey recognized the ideal partnership with Prateek through a series of conversations. Maheshwari’s role swiftly evolved into the technological backbone of the burgeoning venture, spearheading the transformation from a popular YouTube channel to a comprehensive EdTech application.
In the operational structure of Physics Wallah, CEO Alakh Pandey assumes responsibility for educational and branding-related matters, while Prateek Maheshwari leads the charge on product development and technology aspects. This division of roles underscores the efficient functioning of the organization.
Funding till now
Physics Wallah has secured a total funding amount of $100 million through a single funding round. The latest funding round, conducted as a Series A round on June 7, 2022, accounted for the entire $100 million investment. Notably, this round saw the participation of four investors, with WestBridge Capital leading the investment efforts.
The institutional investors backing Physics Wallah include WestBridge Capital, GSV Ventures, and MMPL Trust. Among these, WestBridge Capital stands as the primary institutional investor in Physics Wallah, further highlighting the substantial support the company has garnered from notable financial backers.
Positioning in the market
Physics Wallah dominates a competitive field with 1,077 active competitors. It’s the top-ranked among them. Out of these rivals, 89 have secured funding, and 28 have exited. Collectively, Physics Wallah and its competition have raised over $15.4 billion across 358 funding rounds with support from 1,342 investors. The landscape includes 5 private unicorns, 6 publicly traded companies, and 22 acquired firms.
Key competitors include BYJU’S, founded in 2011 in Bengaluru and currently at the Series F stage; Unacademy, a Bengaluru-based firm founded in 2015 and now at the Series H stage; and Ruangguru, a Jakarta-based company established in 2014 and at the Series C stage. These players reflect the intense competition within the educational technology sector.
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