Alakh Pandey's PhysicsWallah Becomes Unicorn - Indian Startup News 124

Check out jump.trade Cricket NFT collection by clicking on this link - https://jump.trade/?fsz=BWM10

This week in Indian Startup News, Alakh Pandey led edtech company PhysicsWallah becomes unicorn, Rupeek, Eruditus, Superhuman and Lummo lay off employees, Ola Electric Plans Cell Manufacturing Plant In India.

In funding news, Mobikwik, Cred, PhysicsWallah, Purplle and 15 other Indian startups raise more than $1 Million.

In Founder Spotlight, we have Alakh Pandey, who is the man behind the success of PhysicsWallah.

00:00 Introduction
00:08 PhysicsWallah becomes unicorn
02:42 Founder Spotlight - Alakh Pandey
05:00 Sponsored Segment
06:41 This Week's Funding Analysis
07:48 Rupeek, Eruditus, Superhuman and Lummo lay off employees
09:12 Ola Electric Plans Cell Manufacturing Plant In India

Alakh Pandey led edtech company PhysicsWallah becomes unicorn: The journey of PhysicsWallah started in 2014 with a Youtube Channel and the company got incorporated in 2019. Since it's incorporation, company's revenue have increased dramatically and one unique thing with the startup was that it was bootstrapped and profitable from day one. Two things that helped PhysicsWallah are it's low pricing and it's organic word of mouth marketing. With these new funds of $100 Million, company's valuation has reached $1.1 Billion. With these new funds, company plans to open more offline centers, introduce more courses and expand to other regional languages of India.

Founder Spotlight - Alakh Pandey: Alakh Pandey started his journey as a teacher in a offline coaching center in his hometown Prayagraj in UP, but he understood the power of internet and in the year 2014, started uploading his lectures on Youtube. For next 5 years, he stayed committed to the process and during this also crossed 1 Million subscribers on Youtube. Few things that could be learnt from the way he has run the company are, providing value for free, and focus on building a profitable and sustainable company from day 1.

Funding this week: This week saw a big spike in the amount of funding Indian startups raised, with at least 19 startups raising more than $626.8 Million.
Fintech startups - Mobikwik raised $100 Million, Flexiloans raised $90 Million and Cred raised $80 Million.
Edtech startups - PhysicsWallah raised $100 Million, TeamLease Edtech raised $16 Million.
Ecommerce startups - Cashify raised $50 Million, 10club raised $30 Million
D2C startup Purplle raised $33 Million and also became 102nd unicorn of India.

Layoffs this week: Gold loan platform Rupeek laid off over 180 of its employees, as it is now focusing on making the organization structure leaner. Softbank-backed Edtech unicorn Eruditus has laid off 40 of it’s employees, as company now wants to focus on it's core business. Email startup Superhuman has laid off 23 employees. SaaS startup Lummo, which is headquartered in Indonesia, laid off around 50 employees.

Ola Electric Plans Cell Manufacturing Plant In India: Bhavish Aggarwal-led electric mobility startup Ola Electric is planning to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt (Gwh) hours. The estimated cost for this plant is going to be around $1 Billion.

Subscribe to our Newsletter by clicking on the link - https://www.getrevue.co/profile/bwmillionaires

Follow Backstage with Millionaires to remain updated with our latest developments.

LinkedIn: https://www.linkedin.com/company/backstagewithmillionaires/
Twitter: https://twitter.com/bwmillionaires/
Instagram: https://www.instagram.com/backstagewithmillionaires/
Discord: https://discord.gg/XySGGhXKep

#startup #news #backstagewithmillionaires