PhysicsWallah raises $210 million, SAM advises edtech fundraise

Edtech unicorn PhysicsWallah has secured $210 million in a Series B fundraise led by Hornbill Capital, Lightspeed Ventures Partners, as well as other investors at a 2.5 times higher valuation of  $2.8 billion, media reports said.  The existing investors GSV and WestBridge have also participated in the funding round.

As per media reports, Shardul Amarchand Mangaldas & Co advised PhysicsWallah on this fundraise.

In a press release issued last week PhysicsWallah said: “PhysicsWallah Pvt Ltd (PW) has closed its series B funding round, raising USD 210 million. This investment brings the company's post-money valuation to an impressive USD 2.8 billion, 2.5x (times) jump over its last valuation of USD 1.1 billion,”.

Notably, in the past Vertices Partners have also advised Physicswallah in many of their deals including acquisition of iNeuron Intelligence and Utkarsh Eductech.

Founded by teacher-turned-entrepreneur Alakh Pandey in 2016, the profitable edtech firm had previously raised $102 million from WestBridge and GSV Ventures in its maiden funding round.

The latest round marks one of the largest primary capital raises in the edtech segment in recent times, signaling a renewed investor confidence after a long interval, especially as companies transition back to traditional learning methods while incorporating digital innovations.

Following a drastic decline in investment during 2023, which fell to $321 million from a peak of $4.1 billion in 2021, the current funding is a strong indicator of recovery.