Mumbai: EdTech company Physics Wallah (PW) has raised $210 million in a Series B funding round at a valuation of $2.8 billion, the company said on Friday. The education technology startup, which made a twofold jump in its valuation from $1.1 billion, aims to achieve the “largest absolute profitability” in 2024-25.
The latest funding round is led by Hornbill Capital, with participation from Lightspeed Venture Partners and existing investors GSV and WestBridge.
“This investment is not just a validation of our efforts to democratise education and make quality education accessible to every student in India, but also a testament to the impact we have created over the years,” Alakh Pandey, founder and chief executive officer of PW was quoted as saying by Business Standard.
Prateek Maheshwari, co-founder of PW, said the funds will be used to improve the reach and technology. “This comes on the back of strong sustainable year-on-year growth. In fact, FY25 is going to be the year of the largest absolute profitability for the PW Group. There are no good or bad markets, only good or bad stories – and ours is a great impact story,” said Maheshwari.
Abhishek Mishra, Chief Strategy Officer of PW, stated that the company plans to pursue inorganic growth, expand its content and publication offerings, and explore mergers with community-focused education platforms.
“We are very excited to welcome partners who share our values and principles and are aligned with our vision of creating societal impact at scale through quality education,” said Mishra.
Manoj Thakur, Dubai-based founder of Hornbill Capital, remarked that Physics Wallah excels in vision and execution, driven by its successful “3C model” of content, community, and commerce.
“We are excited to see PW’s use of AI (artificial intelligence) not only to help improve students’ outcomes but also their emotional well-being,” Thakur said.
