Delhi Delhi. According to media reports, edtech unicorn Physicwala has raised $210 million in a Series B fundraise led by Hornbill Capital, Lightspeed Ventures Partners and other investors. The amount is 2.5 times higher i.e. $2.8 billion. Existing investors GSV and Westbridge have also participated in the funding round. According to media reports, Shardul Amarchand Mangaldas & Co. has advised Physicwala in this fundraise. In a press release issued last week, Physicwala said: “Physicwala Private Limited (PW) has completed the Series B funding round, raising $210 million.
This investment brings the company’s post-money valuation to $2.8 billion, 2.5 times higher than its previous valuation of $1.1 billion.” It is worth noting that earlier Vertis Partners has also advised Physicwala in many of his deals including the acquisition of iNeuron Intelligence and Utkarsh Edutech. Founded in 2016 by teacher-turned-entrepreneur Alakh Pandey, the profitable edtech firm had previously raised $102 million from WestBridge and GSV Ventures in its first funding round.
The recent raise is one of the largest primary capital raises in the edtech segment, indicating renewed investor confidence after a long hiatus, especially as companies are reverting back to traditional teaching methods while incorporating digital innovations. After a steep decline in investments during 2023, which fell to $321 million from a peak of $4.1 billion in 2021, the current funding is a strong indicator of recovery.
