Delhi-based edtech unicorn has acquired UAE-based startup Knowledge Planet in an undisclosed deal. This marks the first international acquisition by the Indian edtech unicorn.
With this partnership, Physics Wallah is looking to expand across the GCC region in the coming year. Further, it will also invest an undisclosed sum in the Dubai-based edtech company. EY acted as the advisor for this deal.
Email queries sent to Physics Wallah and Knowledge Planet are yet to garner any response on the confirmation of the deal. However, a senior investment advisor from EY has confirmed the acquisition in a LinkedIn post.
According to reliable sources, the new entity will continue to grow, and the founders of Knowledge Planet will continue to operate the GCC entity of Physics Wallah.
“The idea is to focus on bringing online and offline education to the Indian diaspora in the GCC region,” the source told YourStory Gulf Edition (YS Gulf).
Last month, Physics Wallah and e-learning platform Utkarsh Classes formed a joint venture to provide academic training and course offerings in various categories. The startup had also acquired PrepOnline, an online learning platform for NEET, and Altis Vortex, a publisher of exam preparation books, for undisclosed amounts in October 2022.
Nearly a decade into operations, the Knowledge Planet has a wide range of offerings, from test-prep and enrichment courses to training across major competitive examinations like JEE and NEET.
“Knowledge Planet fills a gap for parents by providing quality entrance preparation just like they would expect in India while customising it for the Non-Resident Indians (NRI) mindset and requirements,” said Sachin Bharti Gupta, Co-founder of Knowledge Planet, in an earlier conversation with YS Gulf.
Besides NRIs, Knowledge Planet also trains students from 30 other nationalities, studying in the British, American, and IB curricula. It primarily offers after-school tutorials and competes with BYJU’S, Unacademy, and several other edtech companies in the region.
There is a growing focus on Indian edtech players in the GCC region, including BYJU’S, which is focused on building its operations in the region. Now, Physics Wallah is looking to penetrate the market with a similar acquisition-like route.
“The Indian diaspora is strong in the Middle East, and most look at competitive exams across. It, therefore, makes sense for the larger Indian edtech companies to look at the region,” said a source.
