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PhysicsWallah's Valuation Skyrockets to $2.8 Billion Amid New Funding

  • PhysicsWallah is set to raise $150 million led by Hornbill Orchid, valuing the firm at $2.8 billion.
  • This marks a 2.5x increase from its last valuation in 2022 when it raised $102 million at $1.1 billion.
  • Hornbill Orchid will contribute $70-80 million, with Lightspeed Venture Partners also participating.
  • Despite a 91% drop in profits in FY23, the company aims to hit Rs 2,400 crore in revenue for FY24.
  • The ed-tech sector faces challenges, including funding slowdowns and corporate governance issues.

Source: The Arc

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3mo ago
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FuzzyNoodle
FuzzyNoodle
Zivame3mo

Milking the ruins of Indian Education System

GoofyBoba
GoofyBoba
Stealth3mo

I don’t know much about edtech. But I hope this isn’t the beginning of Byju 2.0.

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