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PhysicsWallah Welcomes Ex-Blinkit CFO Amit Sachdeva as It Prepares for 2025 IPO!

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PhysicsWallah Welcomes Ex-Blinkit CFO Amit Sachdeva as It Prepares for 2025 IPO!

Edtech unicorn PhysicsWallah (PW), backed by Lightspeed Venture Partners, has appointed Amit Sachdeva as its new chief financial officer, marking a strategic move in preparation for its anticipated public market debut in 2025. Sachdeva, formerly the finance chief at Blinkit (previously Grofers) until its ₹4,000 crore acquisition by Zomato in 2022, brings extensive financial expertise to PhysicsWallah, particularly within the tech and consumer sectors.

Background of Amit Sachdeva

Before joining PhysicsWallah, Sachdeva held the position of CFO at IGT Solutions in Gurugram. His career also includes leading finance operations at Wipro’s digital operations and platforms division, showcasing his depth of experience in managing finance for tech-driven enterprises. This background positions him well to guide PhysicsWallah through its upcoming IPO process.

Recent Funding and Growth

PhysicsWallah’s recent hiring push follows a significant $210 million funding round led by Hornbill Capital Advisers and Lightspeed Venture Partners, which doubled the edtech startup’s valuation to $2.8 billion from its previous valuation of $1.1 billion. Existing investors, including GSV Ventures and WestBridge Capital, also participated in this funding round. The addition of Hornbill Capital, known for its expertise in IPO preparations, underscores PhysicsWallah’s focus on strengthening its governance and financial team as it looks toward a future IPO.

Quotes from Leadership

“We are enhancing our finance team and refining our governance practices,” co-founder Prateek Maheshwari shared in a September interview. “Manoj [Thakur] and his team at Hornbill Capital have significant IPO experience, making them the right advisors to prepare us for the public market.”

Expansion Plans

As India’s edtech sector eyes IPO opportunities following the surge of IPOs in food delivery, fintech, and mobility, PhysicsWallah is advancing its growth agenda. Over the next year, it plans to open 40 new centers in cities like Nashik, Pune, Dehradun, Coimbatore, Hyderabad, and Chennai to strengthen its presence in major markets. A substantial portion—approximately 60%—of the recent funding round will be directed toward mergers and acquisitions to further expand its offerings.

Market Position

Founded in 2020 by Alakh Pandey and Prateek Maheshwari, PhysicsWallah operates tech-enabled offline and hybrid education centers for K-12 students across over 105 cities in India. In addition to its core offerings, the company also operates test preparation verticals for various competitive exams along with divisions focusing on skills development and overseas education.

Financial Performance

PhysicsWallah joined the unicorn club in 2022 after raising $100 million from WestBridge and GSV at a valuation of $1.1 billion. Despite facing challenges within the competitive landscape of edtech, including a dramatic 90% decline in net profit to INR 8.9 crore in FY23, the company reported a significant increase in operating revenue—up 234% year-on-year to INR 779.3 crore.

Industry Context

The developments come during a turbulent period for the Indian edtech sector. The sector experienced rapid growth during the pandemic but has faced significant challenges with the reopening of schools, prompting many companies to explore offline models. The difficulties were compounded by a funding crunch that has left many edtech companies struggling with mounting losses.

Conclusion

PhysicsWallah’s decision to pursue an IPO reflects a broader trend among Indian startups looking to list on stock exchanges amid favorable market conditions. As it prepares for this landmark moment in public markets, the appointment of Amit Sachdeva as CFO signifies a commitment to building a strong financial foundation.

With ongoing expansions and strategic hiring aimed at enhancing governance practices, PhysicsWallah is positioning itself as a leader in the edtech space while navigating the complexities of an evolving industry landscape. If successful, it would become India’s first edtech startup to go public, setting a precedent for others in the sector.

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