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PhysicsWallah is currently in the final phases of concluding a $150 million funding round led by Asian hedge fund Hornbill Orchid.
This round will value the Noida-based edtech unicorn at $2.8 billion, which is more than 150% higher than its previous valuation.
This will be the second funding round for PhysicsWallah, a YouTube channel that was established in 2016 by Alakh Pandey, a well-known teacher, to offer coaching for engineering and medical entrance exams. In its inaugural funding round in 2022, the profitable ed-tech company secured $102 million at a $ 1.1 billion valuation from WestBridge Capital and GSV Ventures.
This is anticipated to be one of the first significant primary capital raises in the edtech sector following a prolonged period of stagnation.
Read also - Top 10 Funding Wrap of the Week – September 2 – September 6, 2024
On July 19 the most recent fundraising effort of PhysicsWallah, which appointed Prateek Maheshwari as its cofounder in 2020, coincides with the sector's resumption of consolidation, which has resulted in the acquisition of a few lesser companies by well-funded entities.
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