PhysicsWallah raises $210 mn; valuation jumps 2.5 times to $2.8 bn

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PhysicsWallah raises $210 mn; valuation jumps 2.5 times to $2.8 bn - Business Standard

Quick Summary:

Edtech unicorn PhysicsWallah said on Friday it has raised USD 210 million in a funding round led by Hornbill Capital at a 2.5 times higher valuation of USD 2.8 billion.

There has been a long dry spell of significant funding in the Indian edtech sector with a significant dip in the valuation of large edtech firms.

This investment brings the company's post-money valuation to an impressive USD 2.8 billion, 2.5x (times) jump over its last valuation of USD 1.1 billion," the company said in a statement.