Physics Wallah - 101st unicorn🦄, Pristyn Care acquires Lybrate🩺, PB stock falls over 10%📉

PhysicsWallah joins the unicorn club, Pristyn Care acquires Lybrate, PolicyBazaar stock falls over 10%, Funding Deals and more.

Jun 08, 2022

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PhysicsWallah joins the unicorn club🦄

PhysicsWallah, an edtech platform for engineering and medical entrance exams, has raised $100 million (around ₹777 crores) in its Series A funding round from marquee investors Westbridge and GSV Ventures, hitting a unicorn valuation in its maiden fundraise.

With this development, the firm has become India’s 101st unicorn and the first edtech player this year to touch the coveted unicorn (valuation of over $1 billion) club.

PW currently has 5.2 million Android downloads and 6.9 million subscribers on YouTube.

Launched during the pandemic in 2020, PhysicsWallah (PW) aims to prepare students for engineering and medical entrance examinations. Founded by Alakh Pandey and Prateek Maheshwari, PW specialises in giving comprehensive lectures and sessions on YouTube, the PW app, and the website for students aspiring for NEET, JEE Mains.

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Pristyn Care acquires Tiger Global-backed health-tech firm Lybrate🩺

Healthcare provider Pristyn Care has acquired health-tech startup Lybrate for an undisclosed amount to bolster its operations and expand into primary care.

Pristyn, which turned unicorn in 2021, provides advanced secondary care surgeries through a network of over 800 hospitals across the country. The company said it plans to use the acquisition of Lybrate to drive synergies with its existing operations.

Founded in 2014, Lybrate is a digital healthcare platform that aims to make healthcare accessible by connecting users with over 300,000 doctors across the country. The company has clocked more than 200 million interactions annually.

Consumer lending startup Kissht has raised $80 million in a round led by Vertex Growth Fund and Brunei Investment Agency.
ARTH, a micro MSME fintech platform, has raised $2.5 million in a funding round led by DEG, MIT alumni, and US and Canadian angel investors.
Dubverse.ai, an AI-powered SaaS video content dubbing and creation platform has raised $800,0000 in a seed funding round led by Kalaari Capital.
Wastelink, a food upcycling startup has secured Rs 10 crore in a seed funding round led by Matterhorn Projects, Indigram Labs Foundation, Sanjiv Rangrass, and other angel investors.
Edtech startup EduGorilla has raised Rs 16.5 Crores in a fresh funding round led by SucSEED Indovation Fund.

➡️ Check out our LinkedIn space for more on the funding deals.

PolicyBazaar stock falls over 10% as founder sells shares in open market📉

PB Fintech’s stock plunged 11.5% to close at Rs 582.90 apiece on Tuesday and 60% below its all-time high of Rs 1,470 hit in November after the company informed stock exchanges late on Monday that Yashish Dahiya, the founder and chairman of the entity that operates insurance marketplace PolicyBazaar and credit provider PaisaBazaar, would sell up to 3.77 million shares through the open market route.

Meanwhile, on Tuesday, Dahiya sold 3.769 million shares at Rs 610.24 apiece, worth Rs 230 crore, in a bulk deal on the NSE. Following the transaction, his stake reduced from 24.5 million shares (5.45%) to 20.7 million (4.61%) shares.

Dahiya will use the proceeds from the sale of 3.77 million shares to pay current and future taxes, the company had said in the exchange filings.

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