EdTech Giant PhysicsWallah Set to raise $150 Mn

Physicswallah edtech alakh pandey

Edtech giant PhysicsWallah (pw ) is going to raise a new large funding round after a long time .Due to Funding winter Edtech space has not seen Large funding rounds . This funding will be led by new investors whereas existing investors including Westbridge and GSV Ventures will also participate .

This will be the second financing round for the firm in the past two years. PhysicWallah raised $100 million in a Series A round led by Westbridge and GSV Ventures in June 2022.

Company is set to raise $150 million from new and existing backers,” said one of the sources requesting anonymity. “The terms of the deal have been sealed and the transaction is likely to be public soon.” The company may be valued at 2.8 Billion dollar in this round .

According to TheKredible, WestBridge held a 2.4% stake in PhysicWallah while GSV owned 1.44% as of the Series A round. Its co-founders Alakh Pandey and Prayeek Maheshwari cumulatively command 86.54% of the company.

It was started as online coaching for IIT/JEE but has now become a full-fledged education firm, offering offline coaching, schools, colleges, and upskilling programs . About 30% of its revenue comes from JEE and NEET coaching whereas offline coaching (via Vidyapeeth and Pathshala) contributes 35% of the collection.

Physics Wallah’s revenue surged 3.3X to Rs 779 crore in FY23. At the same time, the firm’s profit declined more than 90% to Rs 8.87 crore in FY23. The company has not disclosed 2024 data.

The valuation also indicates a relatively long time investors are willing to wait it out for the firm to deliver on its potential and declared ambitions.



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