Physics Wallah to Invest 100 Cr in UPSC Division, Plans Expansion to Tier 3 and 4 Cities
Physics Wallah Launches PWOnlyIAS in Delhi; Aims to Cater to More Than Three Lakh Aspirants with UPSC
10 May 2023
Physics Wallah, an Indian tech start-up, is investing ₹100 crores to expand its UPSC (Union Public Service Commission) division, UPSC Wallah, and strengthen its offline coaching centers.
The company plans to open 10 more centers in Tier 3 and 4 cities, introduce courses for state public service commission aspirants, and cater to more than three lakh aspirants in the next three years.
Physics Wallah has been profitable since its founding in 2020 and targets group revenue of ₹2,500 crores in FY2023-24.
Edtech start-up Physics Wallah is investing ₹100 crores in its UPSC (Union Public Service Commission) division. The company plans to use the money to develop technology, pedagogy, content, and recruitment to expand its online platform, UPSC Wallah, and strengthen its offline coaching centers. In the next three years, the start-up intends to open 10 more centers, in Jaipur, Allahabad, Patna, Lucknow, Indore, and Pune. The plans include increasing its presence in Tier 3 and 4 cities and catering to more than three lakh aspirants. The company also plans to introduce courses for state public service commission aspirants in Uttar Pradesh, Bihar, Madhya Pradesh, and Maharashtra.
The move comes after the success of the UPSC Wallah initiative and the launch of Physics Wallah's offline coaching vertical Vidyapeeth School, for which the company plans to invest approximately ₹82 crore. Physics Wallah was founded in 2020 and focuses mainly on JEE and NEET, but is now expanding into UPSC and state PSC. The start-up has content available in nine languages and boasts more than 23 million subscribers.
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In addition to PW's UPSC sheer presence online and offline, the company has launched PWOnlyIAS, an offline coaching center in Delhi's Rajinder Nagar. CEO Alakh Pandey said the company was excited to continue guiding civil services aspirants toward success. Pandey stated that after receiving "an overwhelming amount of support and enthusiasm from civil services aspirants", it was necessary to "extend our expertise to the UPSC community through offline centers."
Despite a funding winter and an uncertain future, tech companies are optimistic about a hybrid future, following the pandemic-driven acceptance of online learning. Physics Wallah, unlike most tech unicorns, has been profitable since its founding, with a 14-fold jump in profit in the 2021-22 financial year. Co-founder Prateek Maheshwari expects the unicorn to register a "sizeable profit" for the 2022-23 financial year, with a three-fold increase in revenue to around ₹780 crore. The company is targeting group revenue of ₹2,500 crore in FY2023-24.