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The edtech startup once again defies a broader funding slump in the sector as it moves towards an IPO.


Co-founders Alakh Pandey and Prateek Maheshwari made Physics Wallah the company it is today by keeping their focus on the digital media, test-prep business. With fresh funds at its disposal after the IPO, it is making the mistake of believing it is an education company.
As the company weighs a move into test prep ahead of a 2027 IPO, the question is whether entering a category from which upGrad has consciously stayed away so far makes sense.
Alakh Pandey and Prateek Maheshwari’s edtech startup will be a first-of-its-kind story from India of a YouTube content platform that has gone on to pull off a public listing.