Edtech company Physics Wallah (PW) has raised $210 million in a Series B funding round, with Hornbill Capital leading the investment alongside Lightspeed Venture Partners, GSV, and WestBridge.
This fresh capital has pushed the company’s valuation to an impressive $2.8 billion, marking a 2.5X increase from its previous valuation of $1.1 billion when PW raised $100 million during its Series A round.
With this new round of funding, Physics Wallah plans to expand its operations across various sectors in the education space. The company aims to consolidate its presence in the Indian education market through organic growth and strategic acquisitions. Additionally, PW will focus on expanding into the K-12 segment, improving content offerings, and exploring potential collaborations with community-driven education platforms.
Alakh Pandey, Founder and CEO of Physics Wallah, expressed his excitement, stating, “This investment not only validates our mission to democratize education in India but also reflects the positive impact we’ve created so far. We’re committed to providing affordable, high-quality education to students across the country.”
Launched in 2020 by Alakh Pandey and Prateek Maheshwari, Physics Wallah offers a variety of courses designed for students preparing for engineering entrance exams like JEE and NEET, as well as state board exams. The platform also caters to skilling, higher education, and study abroad programs. One of its flagship initiatives, the Institute of Innovation (IOI), provides 4-year residential programs focused on preparing students for the workforce.
Originally started as a YouTube channel in 2014, Physics Wallah has grown exponentially, now reaching over 46 million students through its 112+ YouTube channels in five languages. The company’s mobile app has been downloaded more than 30 million times, with 5.5 million students opting for paid courses.
In FY23, Physics Wallah reported a revenue increase of 3.3X, reaching Rs 779 crore, though net profits saw a decline of over 90% to Rs 8.87 crore. As the company continues to scale, it anticipates generating revenue of Rs 2,000 crore for the last fiscal year, with results for FY24 yet to be disclosed.Series B funding
This funding milestone comes at a time when the overall investment in the edtech sector has significantly slowed. According to data from TheKredible, edtech startups have raised approximately $160 million across 27 deals in 2024 so far, a sharp decline from previous years where funding totals reached $456 million in 2023, $2.3 billion in 2022, and $5.8 billion in 2021. Despite the slowdown, Physics Wallah’s success highlights its resilience and growth potential in a challenging market.
