Physics Wallah raises $210 million, valuation crosses $2.8 billion
The education technology company, Physics Wallah (PW), has raised $210 million at the close of Series B funding round, the company said on Friday.
Prateek Maheshwari, one of the brains behind Physics Wallah, played a pivotal role in the transformation of Alakh Pandey’s YouTube channel. It is now a thriving tech venture we know today as the PW app. This revelation has emerged from Pandey’s interviews, shedding light on the crucial role Maheshwari played. So, let’s dive into the world of Prateek Maheshwari.
Prateek stands as the Co-Founder of PW (Physics Wallah). This educational tech company, headquartered in Noida, Uttar Pradesh, India, was established by Alakh Pandey and Prateek Maheshwari back in 2020. Fast forward to June 2022, and it reached unicorn status, garnering a valuation of $1.1 billion after securing a staggering $100 million.
The prosperity of PW has propelled both Prateek Maheshwari and Alakh Pandey onto the list of the affluent, boasting a personal net worth of Rs 4000 crore. Over the last three years, PW has been making profits, experiencing a remarkable 4X growth since FY2022. From Rs 234 crore in FY22 to Rs 780 crore in FY23, the ambitious edtech giant now sets its sights on crossing the Rs 2400 crore revenue mark in FY24.
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Prateek brings with him a track record in the educational technology and food & beverage sectors. With a strong entrepreneurial background, his skills span Operations Management, Entrepreneurship, Manufacturing, Management, and Lean Manufacturing. His prior experience includes founding and managing companies such as PenPencil and Night Panda. Notably, he’s an IIT graduate.
In just a short span, PW has surged to a valuation of $1.1 billion (equivalent to over Rs 9,000 crore today) and solidified its position as a prominent player in a competitive market, rubbing shoulders with rivals like Byju’s, Vedantu, and Unacademy.
A few conversations were all it took for Alakh to recognize the seamless fit between himself and Prateek. Maheshwari swiftly emerged as the technological backbone of the budding venture. He masterminded the shift from a popular YouTube channel to a full-fledged EdTech app.
While CEO Alakh handles the educational and branding aspects, Prateek takes charge of product and technology matters.
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