Breaking News: Physics Wallah, Indian Edtech Unicorn, Secures $210 Million Funding Amid Turbulent Market Conditions
Physics Wallah, the rising star in the Indian edtech sector, has just closed a massive Series B funding round of $210 million led by Hornbill Capital, with Lightspeed Ventures Partners also joining in. This significant investment values Physics Wallah at $2.8 billion, marking a substantial increase from its previous valuation of $1.1 billion in June 2022. With a total of $310 million raised to date, Physics Wallah is making waves in the education industry.
Founded in 2016 as a YouTube channel by co-founder Alakh Pandey, Physics Wallah quickly became the largest Indian edtech community on the platform. The startup now caters to 46 million students in five vernacular languages, offering a wide range of courses from third grade to competitive entrance exam preparation.
What sets Physics Wallah apart is its affordability, with courses starting at just $50 per year. More than 5.5 million students are already paying subscribers, making Physics Wallah a dominant player in the market. Revenue has been soaring, reaching $96.2 million in the year ended March 2023, with a 2.5x increase expected between March 2023 and 2024.
Lightspeed Ventures partner Dev Khare attributes Physics Wallah's success to its accessible price point, much like other successful startups in their portfolio. With plans for inorganic growth and a potential IPO on the horizon, Physics Wallah is poised for even greater success.
Despite challenges facing the broader edtech industry in India, including layoffs at Unacademy and the downfall of Byju’s, Physics Wallah remains optimistic. Co-founder Prateek Maheshwari believes that the market opportunity is still strong, especially with the continuing shift towards hybrid learning models post-COVID.
In conclusion, Physics Wallah's recent funding round solidifies its position as a key player in the Indian edtech landscape. With a focus on affordability, quality education, and innovative technology, Physics Wallah is a prime example of a startup poised for long-term success in a rapidly evolving market. Whether you're a student looking to excel in your studies or an investor seeking promising opportunities, keep an eye on Physics Wallah for future growth and potential returns.