Tuesday, November 29, 2022
Outlook.com
Outlook India
Outlook Business
+

PhysicsWallah Acquires Education Firms PrepOnline, Altis Vortex

These acquisitions will strengthen the content arm of the edtech unicorn

PhysicsWallah Acquires Education Firms PrepOnline, Altis Vortex
POSTED ON October 13, 2022 5:39 PM

Edtech unicorn PhysicsWallah has acquired two new firms—online learning platform PrepOnline and publishing house Altis Vortex. Both the companies will now function as subsidiaries of the unicorn platform. PhysicsWallah has not disclosed the price of the acquisitions till now, The Economic Times reported.

PhysicsWallah was launched in 2020 by Alakh Pandey and Prateek Maheswari. In June 2022, it raised $100 million from Westbridge and GSV Ventures in its maiden funding round. This catapulted the two-year old start-up into the unicorn club.

“We partnered with PrepOnline six months into our inception and both brands grew together. Fundamentally, we were looking at unique forms of content creation (for test preparation), especially in the NEET segment,” Maheswari told The Economic Times.

He also added that the company looked at these acquistions to strengthen its content arm. "We aspire to become the most affordable online bookstore for the test preparation audience. We will also look to launch our public consumer store post Diwali,” Maheshwari added.

Vivek Gaur and Manish Kumar founded PrepOnline and Alex Vortix. 

PrepOnline provides training to the National Eligibility Entrance Test (NEET) aspirants, while Altis Vortex produces books related to exam preparation. With this deal, PhysicsWallah can target NEET aspirants and fortify its position in this segment.

It can also come up with new online content in the test preparation categories, in addition to augmenting its footprint in several areas. The firm has been bullish on the acquisition route to strengthen its presence. In August 2022, it made its first acquistion, by taking over Jaipur-based FreeCo, a doubt-solving and resource management company.

  • Related Articles

    With this strategic investment, Deeksha will bring in close to 13,000 of its students to Vedantu's platform

    Vedantu takes majority stake in test prep platform Deeksha for $40 million

    The company has fired 130 workers and is now left with only 40 employees

    Edtech Start-up FrontRow Lays Off 75% Of Its Workforce

    Rajeev Mishra, CEO of Softbank Vision Fund, Rukam Capital and Vijay Shekhar Sharma, founder of Paytm, were some of the investors who participated in this funding round

    D2C Footwear Start-up Yoho raises Rs 20 crore capital in pre-Series A round