India’s 101st unicorn: Edtech startup PW raises $100 mn in Series-A funding

At a time when educational technology (edtech) start-ups have begun to feel the pressure of raising funds and are looking to lay off employees to manage costs, edtech platform PhysicsWallah (popularly known as PW) has become India’s 101st unicorn by raising $100 million in Series A funding from WestBridge Capital and GSV Ventures.

The company was valued at $1.1 billion after closing the transaction. So far, the company has been bootstrapped, which means Series A funding is the first instance of external investors coming on board. It is also the second bootstrap­ped company to raise a substantial amount in Series A after Kota-based Allen Career institute bagged $600 million from Bodhi Tree Systems.