CosmicTaco
CosmicTaco

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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Physics Walla raises $150Mn

Lightspeed Venture Partners has closed a $150-million funding round for Alakh Pandey's PhysicsWallah—a rare deal in India's edtech sector amid declining investor interest due to decreased demand for online learning.

The investors are no...