PhysicsWallah enters government jobs prep and print books space with two bets

NEW DELHI: Edtech unicorn PhysicsWallah, which counts Westbridge and GSV Ventures among its renowned investors, announced on Thursday that it has acquired test preparation platform PrepOnline and exam preparation book publisher Altis Vortex for an undisclosed sum in a cash and stock agreement.

This is the Noida-based company’s second acquisition after becoming a unicorn in June. In August he had acquired Jaipur-based doubt resolution and resource management startup FreeCo for an undisclosed amount.

PhysicsWallah aims to expand its global reach and expand its offerings across India.

In the wake of its latest acquisitions, PhysicsWallah has onboarded a total of 80 employees for its educational assistance and editorial content expertise, including 35 from PrepOnline and 45 from Altis Vortex.

PrepOnline is an online test preparation platform for exams such as National Eligibility cum Entrance Test (NEET) and Common University Entrance Test (CUET). While Altis Vortex, which has published over 150 books, covers exams such as Graduate Aptitude Test in Engineering (GATE) and Union Public Service Commission (UPSC), among others.

Launched during the pandemic in 2020, PhysicsWallah (PW) aims to prepare students for entrance examinations in engineering and medicine. Founded by Alakh Pandey and Prateek Maheshwari, PW specializes in presenting lectures and full sessions on YouTube, PW app and website for aspiring NEET students, JEE Mains.

He became a unicorn this year after raise $100 million in its Series A funding round from marquee investors Westbridge and GSV Ventures at a $1.1 billion valuation. A unicorn is a private startup with a valuation of $1 billion or more.

“PrepOnline and Altis Vortex will make quality education more accessible and affordable for students preparing for government jobs, Pandey said.

“We have partnered with PW from the start, providing content and operational support. Now we will work as a team to create new exam prep categories and catalyze the growth of PW,” said Vivek Gaur, co-founder of PrepOnline and Altis Vortex.

Last month, PhysicsWallah embarked on the preparation of vertical tests for postgraduate students preparing for their Engineering Graduate Aptitude Test (Gate) exams.

The edtech industry, which exploded during the pandemic as education moved online, experienced a major funding crisis and moderation in valuations as educational institutions reopened offline. With a focus on cost containment, many have resorted to mass layoffs and the reduction of discretionary spending.

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