Edtech unicorn PhysicsWallah (PW) has purchased PrepOnline, an online platform for learning and preparing for the National Eligibility Cum Entrance Test (NEET) and Altis Vortex, a publisher of test preparation books.
The specifics of the transactions are not made public.
The acquisitions are coming at a time PhysicsWallah is looking at new acquisitions in its quest to expand geographically as well as venture into different tests and categories of preparation.
Each of PrepOnline and Altis Vortex was founded by Vivek Gaur and Manish Kumar in 2019 and 2015, respectively. PrepOnline offers an online platform for test preparation for exams such as NEET and the Common University Entrance Test (CUET). Altis is a publisher of more than 150 books and provides tests like the Graduate Aptitude Test in Engineering (GATE), Union Public Service Commission (UPSC), Staff Selection Commission (SSC), NEET, CUET and many more.
The purchase of PrepOnline will assist PhysicsWallah in increasing its presence in its NEET category. PrepOnline’s YouTube channel boasts nearly 400k subscribers. It will be transferred to the brand’s assets of Physics Wallah. The two companies announced this in an official statement.
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As part of the deal, Gaur will become a part of PhysicsWallah as the company’s chief growth director.
It is the third purchase by this edtech unicorn. In the past, it bought out the company that solves edtech problems, FreeCo, for an unspecified amount.
PhysicsWallah has become a billion-dollar valued company after the company raised a 100 million funding round with Westbridge and GSV Ventures in June this year.Created by the late Alakh Pandey, PhysicsWallah has a business division that provides textbooks and study aids. It also offers comprehensive educational sessions for students who are aspiring to take NEET, JEE Mains and board exams. After its initial fundraising campaign, the business moved into offline education by opening its centre PW Vidyapeeth in Kota, Rajasthan.
