PhysicsWallah Picks Up Minority Stake in Sarrthi IAS Founded by Varun Jain and Dr. Shivin Chaudhry, Sarrthi IAS focuses on mentorship-driven UPSC preparation and offers courses such as GS Foundation, Mains modules, Prelims revision, and interview training.
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Edtech unicorn PhysicsWallah (PW) has acquired a 40 per cent stake in UPSC coaching institute Sarrthi IAS at a valuation of about INR 250 crore, according to reports.
"Sarrthi will continue to function independently while tapping into PhysicsWallah's technology and infrastructure," one of the sources told on condition of anonymity, according to a report by Entrackr.
Founded by Varun Jain and Dr. Shivin Chaudhry, Sarrthi IAS focuses on mentorship-driven UPSC preparation and offers courses such as GS Foundation, Mains modules, Prelims revision, and interview training.
The acquisition signals a consolidation push in the UPSC prep space, where PhysicsWallah already operates through its dedicated vertical PWOnlyIAS. Post deal, the combined UPSC business, including Sarrthi IAS, is projected to surpass INR 350 crore in revenue in FY26, according to one of the sources.
For PW, the investment strengthens its presence in the civil services coaching market, covering UPSC as well as state-level public service exams, while expanding its offline footprint. The company had previously explored larger acquisitions, including Drishti IAS, though those discussions did not move forward.
The deal comes at a time when PhysicsWallah is preparing for its IPO, having recently received SEBI approval to file its DRHP. The company is expected to raise around INR 4,500 crore through the listing.
In terms of funding, PhysicsWallah has raised USD 312 million, including a USD 210 million Series B round led by Hornbill Capital with participation from Lightspeed, GSV, and WestBridge Capital, which valued the edtech firm at USD 2.8 billion.
On the financial front, the Alakh Pandey-led company recorded a 55 per cent year-on-year revenue growth to nearly INR 3,000 crore in FY25, while its losses shrank by almost 80 per cent during the same period.
