PhysicsWallah, a Westbridge Capital-backed edtech unicorn, announced plans to hire approximately 2,500 employees across its verticals over the next two months on Monday.
The edtech company will hire faculty and professionals for allied roles such as business and data analysts, counsellors, operations managers, batch managers, and teachers.
The news comes at a time when over 22,000 Indian startups have laid off employees in the last year, citing cost-cutting and corporate reorganisation as the primary reasons. Some businesses also experienced performance-related layoffs.
As part of its expansion plans, the Westbridge-backed firm acquired Bengaluru-based iNeuron.ai last month, as PhysicsWallah aims to become a full-stack edtech company through multiple acquisitions.
The unicorn intends to expand further while remaining profitable. Its standalone net profit increased 14 times to Rs 97.8 crore in the fiscal year ended March 2022, up from Rs 6.93 crore the previous year.
PhysicsWallah, founded in 2020 by Prateek Maheshwari and Alakh Pandey, assists students in preparing for engineering and medical entrance exams through lectures and sessions on YouTube, the PhysicsWallah app, and the PhysicsWallah website. It competes with, among others, Byju's, Unacademy, and Vedantu. The company is now expanding its content portfolio by developing new courses in-house or through strategic partnerships.