Physics Wallah Private Limited (PW), India's top online ed-tech platform has closed its Series B funding round, raising INR1,760 crore. With this investment, the company's post-money valuation has increased to an impressive INR 23,500 crore, 2.5 times higher than its previous valuation of INR 8,000. Hornbill Capital led the funding round, along with the continued support of its existing investors, GSV and WestBridge.
In these difficult circumstances for the EdTech industry, Physics Wallah's investment round is a ray of hope, showing the resolute faith of both new and old investors in the company's expansion and its aim of democratizing education in India. The exceptional level of interest from both new and current investors demonstrates how strongly they believe PW can provide the next generation of Indians with a top-notch education.
Alakh Pandey, Founder and CEO of Physics Wallah, showed his appreciation, stating, "This investment is not just a validation of our efforts to democratize education and make quality education accessible to every student in India, but also a testament to the impact we have created over the years. Prateek and I are excited to partner with Hornbill Capital and Lightspeed Venture Partners in this journey, and we deeply appreciate the continued trust from WestBridge and GSV."
Sandeep Singhal, Co-founder and Managing Partner at WestBridge, expressed his excitement, "Our decision to double down on Physics Wallah is driven by the company's exceptional growth, strong execution, and long-term vision. We believe in the leadership of Alakh and Prateek and their ability to solve one of India’s stickiest problem, which is to provide world class education at super low cost and at population scale. In that, PW is probably one of the highest social impact enterprise that I have ever seen."
Deborah Quazzo, Managing Partner at GSV Ventures, expressed a similar sentiment saying, "The impact that Physics Wallah has had on students across Bharat is incredibly inspiring. Our investment in PW, the largest commitment we've made to date, reflects our strong belief in the company’s commitment to quality and accessibility. The PW team has a unique ability to democratize education on a global scale, delivering high-quality learning at an affordable cost. The positive outcomes achieved by PW students align perfectly with our investment philosophy, and we are excited to further strengthen our partnership."
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