Edtech unicorn Physics Wallah (PW) has successfully closed its Series B funding round, securing $210 million at a remarkable post-money valuation of $2.8 billion. This marks a 2.5x increase from its previous valuation of $1.1 billion. The funding round was led by Hornbill Capital and included participation from Lightspeed Venture Partners, GSV, and WestBridge Capital.
Alakh Pandey, co-founder and CEO of Physics Wallah, expressed enthusiasm about the new investment, calling it a testament to the company’s impact on the education sector. Since its inception, Physics Wallah has carved a niche in the competitive ed-tech market by focusing on affordable, high-quality education aimed at students preparing for competitive exams in India. The startup has gained immense traction, serving millions of students across the country.
Prateek Maheshwari, co-founder of Physics Wallah, highlighted that the company is on a trajectory for continued growth, with FY25 expected to be a landmark year. “This comes on the back of strong sustainable year-on-year growth – FY25 is going to be the year of the largest absolute EBITDA profitability for the PW Group,” Maheshwari said. This focus on profitability underscores PW’s commitment to sustainable expansion amid growing demand in the ed-tech space.
With over 9,500 hours of educational content produced weekly and a student base spanning 18,808 pin codes in India, Physics Wallah has established itself as a significant player in the sector. The funds from the latest round will be used to scale its operations, consolidate its position in the education market, and pursue inorganic expansion. This includes entering the K-12 formal education segment and enhancing its content and publication offerings.
Additionally, Physics Wallah is eyeing mergers with community-driven education platforms to diversify and strengthen its presence in various educational categories. As the company looks to scale, it aims to leverage this capital to solidify its position in India’s fast-evolving ed-tech landscape.
The funding comes during a strong period for India’s startup ecosystem. The country saw a 42.1% year-on-year increase in venture capital funding in the first half of 2024, raising $6.3 billion across 672 deals. With this investment, Physics Wallah joins other Indian startups, such as Zepto and Meesho, in securing significant capital to fuel growth and innovation in a rapidly expanding market.
