PW's Teacher Problem, Lahori's Sparkling Story & More

PhysicsWallah Has A Teacher Problem

As PhysicsWallah (PW) gears up to become the first listed Indian edtech, a brewing faculty crisis threatens its public debut. The edtech giant is facing allegations of unfair terminations and a culture that prioritises student ratings over educational quality.

A Revolving Door Of Teachers: Faculty attrition is a major red flag, soaring to 40.4% in FY24 before settling at 26% in FY25. Former educators report being terminated mid-year via ‘mutual separation’ emails and are pursuing legal action over final settlements, casting a shadow over PW’s pre-IPO image.

The Shaky Student Reviews: At the core of the discontent is a unique student-led review system, where learners can vote to remove teachers. Faculty argue this creates an unfair power dynamic, where challenging students is risky. They also claim centre managers can fire staff on a ‘whim and fancy’ with little oversight.

The Cost Of Low Prices: PW’s disruptive, low-cost model appears to be driving these issues. To offset this low-margin play, the company is allegedly cutting costs by hiring inexperienced, lower-paid faculty. This has correlated with a 58% spike in student dropouts and INR 26 Cr in refunds in FY25. Now, as PW eyes public markets, it must balance growth with retaining its most valuable asset– its teachers.

The Arrest Of A Serial Founder

Dataisgood cofounder Ankit Maheshwari was detained in September and charged with fraud, conspiracy, and data theft. The serial entrepreneur had been in the eye of controversy ever since the exit from Dataisgood.

From Promise To Peril: The charges stem from an investigation launched after Skill Arbitrage acquired Dataisgood in 2023. The probe uncovered irregularities, including employees posing as alumni from tech giants to lure students, fake testimonials, and misrepresenting courses with false promises of jobs.

A History Of Controversy: The allegations follow a disturbing pattern. After his exit from Dataisgood, Maheshwari quietly launched a competing venture, 1to10X, and allegedly siphoned critical data from his former company. This mirrors a controversial exit from his previous startup, Betaout, where an acquisition reportedly left angel investors like Paytm’s Vijay Shekhar Sharma with a 90% loss while founders secured hefty payouts.

With Maheshwari’s three ventures now marked by contentious exits and serious allegations, are these cases of repeated entrepreneurial missteps, or a broader systematic deception?

Lahori’s Desi Recipe For Scale

When three cousins from Punjab launched Lahori in 2017, Indian alternatives to global beverages were barely visible. The trio spotted an opportunity to put ethnic beverages on par with Western colas and carve out a new category, targeting urban youth.

The Rise Of A Desi Lemonade: Initially, distributors were sceptical and took their stock only on credit. Instead of asking for large commitments, they convinced retailers to make small bets of just INR 200 each. This retailer-first strategy worked wonders. Within months, Lahori was in hundreds of outlets, and repeat orders began pouring in. Lahori Zeera’s retailer-first playbook proved decisive.

The Expansion Playbook: The company scaled judiciously, using profits to expand production through a mix of owned plants and an asset-light co-bottling model. Strategic funding, first from Verlinvest and then a significant INR 200 Cr from Motilal Oswal Wealth, helped streamline operations, build a strong management team, and fuel rapid growth.

An Explosive Growth Story: From INR 83 Cr in 2020, Lahori grew to INR 530 Cr in FY25 and aims to hit INR 800 Cr in FY26. With daily production nearing 5 Mn bottles, expansion into South India and an overseas debut in the UAE are on the cards.

Rentomojo’s Decade Of Perseverance

After nearly a decade of navigating a tough market, furniture rental startup Rentomojo is finally in the spotlight. With profitability under its belt and an IPO on the horizon, the company is proving that India’s rental economy is ready for its moment.

A Long Road To Stability: From raising capital for an asset-heavy business to convincing customers to rent rather than buy, Rentomojo’s journey has been anything but linear. However, the pandemic turned out to be a crucial turning point as it forced Rentomojo to tighten operations, refocus on its core business, and chart a path to profitability.

Today, Rentomojo has grown its offline footprint to 65 outlets, allowing customers to experience products firsthand. This physical presence complements its online platform and now accounts for nearly 20% of its operating revenue.

Eye On The Horizon: Rentomojo, which posted a net profit of INR 40 Cr (unaudited) in FY25 against a revenue of INR 270 Cr, now aims to expand into more cities, add new categories, and increase wallet share per customer. With a subscriber base of over 2.2 Lakh users, the company now faces the challenge of sustaining growth and operational efficiency — key tests as it seeks to prove that India’s furniture rental market is ready for the public markets.

The Story Of Seekho’s Near-Death Blow

In mid-2022, edutainment startup Seekho was on life support. Founded by three IIT Kanpur alumni to replace mindless doomscrolling with short, skill-based videos, the company had less than a month of cash left and was on the brink of collapse.

The Last-Ditch Gamble: In a desperate, make-or-break move, the founders introduced a simple paywall – an annual subscription of just INR 199. This audacious bet became their salvation. The first trickle of INR 4 Lakh revenue allowed them to reinvest in curated content around finance, life hacks, and business growth, attracting more skilled creators and locking-in users.

The Bet Pays Off: By March 2025, Seekho’s paid user base had swelled to 2 Mn, catapulting its monthly revenues to the INR 50 Cr mark. The company, once on the verge of bankruptcy, is now on track to clock over INR 600 Cr in FY26 revenue. With much more lined up, Seekho now aims to tap into vernacular content, AI-driven learning, and new categories such as agriculture.

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