Edtech unicorn PhysicsWallah has acquired an approximately 19.5% stake in an online learning platform iNeuron.
This acquisition announcement comes at a time when edtech companies have shifted their attention to hybrid due to a decline in demand following the phased reopening of schools and colleges. In a hybrid world, edtech businesses will rely even more on technology. According to iNeuron, the company’s current investors, S Chand, the directors of S Chand, and the Mukesh Sharma Family Trust, offloaded 6.5%, 3%, and 10% of their stakes in the edtech startup, respectively, and subsequently sold their shares to PhysicsWallah. Following the transaction, S Chand received about INR 13.8 Cr for selling his shares in iNeuron, according to regulatory filings.