Etdtech major PhysicsWallah (PW) has appointed ex-Blinkit Amit Sachdeva as its Chief Finance Officer as the company prepares for its listing.
With a career in finance, prior to PhysicsWallah, Amit has worked across multiple industries in Consumer Tech, IT/ITeS, and has held leadership roles at IGT Solutions, Blinkit, Wipro.
At PW, he will lead the strategic and financial initiatives and strengthen the company’s vision of making quality education accessible.
“Joining PhysicsWallah is a great opportunity to support an organization seeking to make education accessible to so many” said Amit.
“Amit’s experience in financial leadership and his focus on robust corporate governance will be invaluable as we continue our efforts to grow and broaden our educational impact” Alakh Pandey, chief executive officer of PhysicsWallah, said in a statement on Thursday.
This comes at a time when PhysicsWallah has raised $210 million funding round led by Hornbill Capital Advisers and Lightspeed Venture Partners, which valued the edtech firm at $2.8 billion, more than doubling its prior valuation of $1.1 billion. Existing investors GSV Ventures and WestBridge were also involved.
The proceeds will expand its offline presence, diversify into new regions, and potentially look at acquisitions, Prateek Maheshwari, co-founder of PhysicsWallah, told businessline.
The edtech giant has been entering new verticals and investing in inorganic growth opportunities. The fresh investment is expected to fuel the company’s growth momentum. Offline expansion will be a key theme for the company as it looks to expand its reach in various other test prep and coaching sectors.
With bullish public market sentiment, dozens of Indian start-ups that once chose to be based abroad are now queuing to return home due to better initial public offering prospects. Razorpay, Pine Labs, KreditBee Zepto, Eruditus and InMobi are flipping back in the coming months in preparation for eventual IPOs.
Research from Redseer forecasts a significant spike in IPO-ready companies by FY28, fuelled by an increased emphasis on profitability.