PhysicsWallah cautiously monitoring market for opportunities

New Delhi: Edtech firm PhysicsWallah has said it is cautiously monitoring the market for any opportunities that align with its vision, as it aims to be a sustainable company, not merely an initiative-driven one.

The Noida-headquartered edtech company also said it has enough cash in the bank before the next round of fundraising.

"We are cautiously monitoring the market for any opportunities that align with our vision, since it is important to be a sustainable company, not merely being an initiative-driven one," PhysicsWallah Chief Business Officer (CBO) Imran Rashid told PTI.

The company raised USD 100 million in series A funding from Westbridge and GSV Ventures at a valuation of USD 1.1 billion in 2022.

PhysicsWallah, Rashid said, is in an early stage in terms of funding amid a stretched funding winter in the startup space.

The edtech firm has recently forayed into offline teaching and established tie-ups with schools.

"Schools are an integral part of...education system (in India) because tech companies will come and go, but schools and colleges will remain there..." Rashid said.

It has also committed to invest USD 10 million (about Rs 82 crore) in phases in its school-integrated programme.

Its school integration programme was initiated in April this year, primarily targeting tier 3 and tier 4 cities and engaging with over 100 schools in underserved regions.

"They say there is a first-mover advantage in the industry, but at times, there is also a last-mover's advantage because you can learn from the mistakes of everyone. Whoever was before us, their mistakes are in the public domain.

"We are extra conscious, when it comes to audits and regulations or other compliances. We know that misselling will ruin our reputation in the market. I am not saying we won't make mistakes, but we know what not to do," Rashid noted.

Besides, the company is working on its international expansion plans with a focus on the GCC (Gulf Cooperation Council) region.