PhysicsWallah Announces Deal with PrepOnline and Publisher Altis Vortex

on Oct 14, 2022

On Thursday, Edtech unicorn PhysicsWallah announced that it has acquired test preparation platform PrepOnline and exam preparation books publisher Altis Vortex for an undisclosed sum in a cash and equity deal. Westbridge and GSV Ventures are among the company's notable investors.

The Noida-based business has now been acquired twice since becoming a unicorn in June. FreeCo, a company providing resource management and question-answering services, was purchased by it in August for an unknown sum.

In India, PhysicsWallah wants to grow up its products and broaden its total audience.

Following its most recent acquisitions, PhysicsWallah has hired a total of 80 staff members, including 35 from PrepOnline and 45 from Altis Vortex, to provide instructional support and editorial content expertise.

PrepOnline is an online testing facility for exams like the Common University Entrance Test (CUET) and the National Eligibility cum Entrance Test (NEET) (CUET). While Altis Vortex, a publisher of over 150 publications, covers tests like the Union Public Service Commission (UPSC) and Graduate Aptitude Test in Engineering (GATE), among others.

PhysicsWallah (PW), which was established amid the pandemic in 2020, intends to help students be ready for engineering and medical admission exams. Alakh Pandey and Prateek Maheshwari founded PW, which focuses on providing thorough lectures and sessions for students aiming to take the NEET and JEE Mains via YouTube, the PW app, and the website.

After receiving $100 million in Series A investment from prestigious investors Westbridge and GSV Ventures at a valuation of $1.1 billion, it became a unicorn this year. A privately held startup valued at $1 billion or more is referred to as a unicorn.

Students preparing for government positions will find quality education more accessible and inexpensive thanks to PrepOnline and Altis Vortex "Pandey added.

"We have provided content and operational assistance to PW since the beginning of our partnership. We will now collaborate to create additional categories for test preparation and spur PW's growth "Co-Founder of PrepOnline and Altis Vortex, Vivek Gaur, remarked.

The Graduate Aptitude Test in Engineering (GATE) examinations are being prepared for by postgraduate students, and PhysicsWallah entered the test preparations ladder last month.

With the reopening of offline educational institutions, the edtech business, which grew during the pandemic as instruction shifted online, has seen a severe financing shortage and a slowdown in values. Many have turned to mass layoffs and cutting discretionary spending in an effort to reduce expenses.