Edtech platform Physics Wallah (PW) has successfully secured $210 million in a Series B funding round, with Hornbill Capital leading the investment and support from Lightspeed Venture Partners, GSV, and WestBridge. This new capital injection has raised PW’s post-money valuation to $2.8 billion, a remarkable 2.5x increase from its previous $1.1 billion valuation in the Series A round, where the company raised $100 million.
According to a company statement, the funds will be strategically used to scale operations, with a focus on consolidating its position in the education market. PW aims to drive inorganic growth, expand into the K-12 segment, enhance content offerings, and explore mergers with community-driven educational platforms.
Alakh Pandey, the founder and CEO of Physics Wallah, stated, “This investment validates our mission to democratize education, ensuring quality learning is accessible to every student across India. It’s also a testament to the significant impact we’ve had over the years.”
Founded in 2020 by Alakh Pandey and Prateek Maheshwari, Physics Wallah offers both online and offline courses for exams such as JEE, NEET, and state board exams. The company also operates divisions focusing on skills training, higher education, and international study programs. PW’s Institute of Innovation (IOI) provides residential programs with a strong focus on job readiness.
Originally launched as a YouTube channel in 2014, Physics Wallah now offers free educational content to over 46 million students through its 112+ YouTube channels in five regional languages. Its app has surpassed 30 million downloads, with 5.5 million users subscribing to paid programs.
In FY23, Physics Wallah saw its revenue grow by 3.3x to Rs 779 crore, although profits fell by over 90% to Rs 8.87 crore. The company expects to report Rs 2,000 crore in revenue for FY24.
This funding comes at a time when overall investment in the edtech sector has slowed. So far in 2024, edtech startups have raised only $160 million across 27 deals, compared to $456 million in 2023 and $5.8 billion in 2021, according to data from TheKredible.
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