This round values Physics Wallah at $2.8 billion, which is a substantial increase from the previous valuation of $1.1 billion it had obtained in its last funding round in June 2022.
This is also the largest fund raised by an Indian. educational technology Over the past two years, Physics Wallah has raised over $310 million with this current round.
The current round also includes a secondary transaction of approximately $35 in which its founders and employees also sold some of their shares.
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The company will now primarily use these funds to make acquisitions that support its future growth plans, with a focus on consolidation in the education market. It also plans to continue inorganic expansion to enter the competitive K-12 formal education segment.
Currently, the educational technology It offers online, offline, and hybrid platforms. It serves over 4.6 million students through its 112+ YouTube channels. Fifty-five million of these students are now paying customers.
It operates around 180 physical centres and is also setting up technology-enabled hybrid and offline centres across 105 cities in India.
Now, the company’s co-founder has said in a statement that FY25 will be the highest absolute profitability year of earnings before interest, taxes, depreciation and amortization (EBITDA) for Physics Wallah Group.
This comes after the company reported a steep 91% drop in profits in FY23 due to rising expenses, though its overall revenues rose 243% YoY to Rs 108.04 crore in FY23. So, in what have been very tough times for the edtech sector, here is a mega round of funding for Physics Wallah.
In a company statement, Abhishek Mishra, Chief Strategy Officer, Physics Wallah, said, “We were amazed to see such enthusiasm and response to our Series B funding round from both new and existing investors. We are very happy to welcome partners who share our values and principles and are aligned with our vision of creating large-scale social impact through quality education.”
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(Edited by: Ajay Vaishnav)
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