Edtech unicorn PhysicsWallah is reportedly in the final stages of acquiring Drishti IAS Institute, an offline coaching firm. In another development, JungleWorks has acquired a majority stake in sales engagement platform Outplay.
PhysicsWallah eyes Drishti IAS Institute
Edtech unicorn PhysicsWallah is reportedly in the final stages of acquiring Drishti IAS Institute, an offline coaching firm, Entrackr reported on Monday (March 31). If completed, this would be the biggest acquisition in the edtech sector in recent years.
“PhysicsWallah is investing approximately Rs 2,500–3,000 crore to acquire the UPSC and state commission preparatory platform,” the report said, citing sources. The two companies have been in discussions since January, and the deal is expected to be concluded soon, the report added.
This development comes close on the heels of PhysicsWallah’s preparations for its initial public offering (IPO). The Noida-based company recently added three independent directors to its board and plans to raise $500 million at a $5 billion valuation through the upcoming initial share sale.
Founded by Vikas Divyakirti, Drishti IAS, is a 26-year-old educational platform specialising in offline coaching for India’s Civil Services Examination (CSE), which ensures recruitment of bureaucrats to various services including the Indian Administrative Service (IAS), Indian Police Service (IPS), and Indian Foreign Service.
It reported a revenue of Rs 405 crore and a profit after tax (PAT) of Rs 90 crore for the year ended March 2025.
JungleWorks acquires Outplay
JungleWorks, a provider of no-code hyperlocal commerce and delivery solutions, has acquired a majority stake in sales engagement platform Outplay, per an announcement.
As part of the deal, JungleWorks will invest $14 million to accelerate Outplay’s growth and further develop cutting-edge AI-driven sales automation tools.
“This acquisition is a natural fit for our vision to empower businesses with AI at every stage of the customer journey,” said Samar Singla, CEO of JungleWorks. “By combining Outplay’s advanced sales engagement capabilities with JungleWorks’ no-code local commerce solutions and expertise, we are creating a powerful AI ecosystem that serves businesses globally.”
Launched in 2019, Outplay will continue to operate and serve its existing and future customers as an independent entity, fully integrating with JungleWorks to deliver AI-powered solutions to JungleWorks customers worldwide. Outplay’s founding team—Laxman Papineni (CEO) and Ramakoteswarrao Papineni (CTO)-will continue to lead the company, the statement added.
Outplay had previously raised $10 million from Sequoia Capital India.
