PhysicsWallah is an edtech startup that aims to secure $150 million at a $2.8 billion valuation during its new funding round. This round will involve participation from new investors and some existing investors, including GSV ventures and Westbridge. The startup plans to use these fresh proceeds to enhance its platform, scale its operations, and strengthen its market presence. We are disscusing about Edtech startup PhysicsWallah to raise $150 million in a new round at a valuation of $2.8 billion from its investors.
We are disscusing about Edtech startup PhysicsWallah to raise $150 million in a new round at a valuation of $2.8 billion from its investors:
The person close to the deal told Entrackr that the company is planning to raise $150 million while the terms of the deals have been finalized, and the transaction will be made public soon. This will be the second funding round for this startup in the past two years. This edtech startup previously secured 100 million USD in its series A funding round from GSV Ventures and Westbridge. After this round, the company will have a 2.5 times increase in its valuation to $2.8 billion. The startup data intelligence platform, kredible, mentioned that WestBridge owns 2.4 percent stakes in the firm, followed by GSV with 1.44%, and the two co-founders held 86.54% of the company.
PhysicsWallah offers online and offline coaching services in different areas, including IIT/JEE, Data Science, Management, Law, and Technology. The company provides offline educational institutes, schools, colleges, and upskilling programs to students. The company earned the trust and loyalty of its students, while other companies are facing issues with this. The valuation highlights the trust of long
time investors in the firm’s market potential. Period. The online coaching platform offered by the startup leverages cutting-edge technology to provide the best learning experience. The company aims to expand its offline brand presence in multiple cities across India.
The company reports a 3.3 times increase in its revenue to Rs 779 crore in FY23. The profit experienced a 90 percent decrease to Rs 8.87 crore in the same period. The company reduced its workforce to decrease its losses in November last year. The company earns around 30 percent of its income through JEE and NEET coaching while offline coaching contributes to 35 percent of the total revenue. The Indian edtech startup ecosystem saw a considerable decline. The edtech companies only secured $138 million across 21 deals in the first half of this year.
Conclusion
Edtech startup Physicswallah plans to secure a $150 million fund in its new round. The round might involve various new and existing investors, including GSV ventures and WestBridge. The startup plans to use these fresh proceeds to scale its operations, establish more coaching platforms, expand its network, and increase its customer base. This will be the second round of investment of this Noida-based startup. After this round, WestBridge will be the firm’s largest stakeholder, with a 2.4 percent stake, while the co-founder of PhysicsWllah will own 86.54 percent of the company. The startup established its presence in the online and offline education market. The edtech startup secured $100 million in its series A funding round 2022.
