Edtech unicorn PhysicsWallah (PW), with Alakh Pandey (PhysicsWallah) at the helm, is said to be in the final stages of striking a deal to purchase SarrthiIAS, a mentorship-centric UPSC coaching platform started by Varun Jain and Dr. Shivin Chaudhary. This possible acquisition comes after PW’s interest in other preparatory coaching centers like Drishti IAS, Chaitanya Academy, and Rau’s IAS Study Circle. Such reported interest from PW suggests a major shift into the understudy PW’s venture into the UPSE preparation sector as a core area of growth. Sources indicate the valuation of the Sarrthi IAS deal would be in the range of ₹120-130 crore which makes sense as Sarrthi IAS had closed FY25 with revenue of ₹35 crore and profits of around ₹20 crore.
This acquisition spree comes while PW is preparing for an IPO at a valuation of $500 million and toward the end of a relative dry spell in acquisitions for the WestBridge-backed firm, having last bought Xylem Learning in June 2023. Other acquisitions by PW include Knowledge Planet, iNeuron.ai, Altis Vortex, PrepOnline.in, and FreeCo. PW’s expected growth will be driven primarily by tightening competition in the market. While Jain has denied the talks are happening, such a deal highlights the worsening consolidation race in the edtech market, especially in the overcrowded area of Pw-reliant UPSC prep coaching.
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