Edtech unicorn PhysicsWallah on Friday said it has raised USD 210 million in a funding round led by Hornbill Capital at a 2.5x valuation of USD 2.8 billion. Lightspeed Venture Partners, along with existing investors GSV and WestBridge, also participated in the funding round. “PhysicsWallah Pvt Ltd (PW) has closed its Series B funding round, raising USD 210 million. This investment takes the company’s post-money valuation to an impressive USD 2.8 billion, a 2.5x jump over its last valuation of USD 1.1 billion,” the company said in a statement. There has been a long period of drought of meaningful funding in India’s edtech sector with a significant drop in the valuation of large edtech companies. “PhysicsWallah’s funding round serves as a beacon of optimism amidst challenging times for the edtech sector, showcasing the unwavering confidence of existing and new investors in PhysicsWallah’s growth and its mission to democratize education across India,” the company said.
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