New Delhi, 20 September (H.S.): Indian education technology

startup ‘Physics Wallah’ has raised record $210 million, bringing cheer to the Edtech domain as its previous leader Byju’s miserably collapsed even after

having a valuation of $22 billion.

The funding, led by Hornbill Capital, and involving

Lightspeed Venture Partners, GSV and West Bridge, values the company at $2.8

billion, a significant increase from its last valuation of $1.1 billion.

The startup has raised over $310 million to date. The new

funding, largest by an Indian edtech since 2022, included a secondary

transaction of about $35 million that saw its founders and employees selling

some of their shares.

Physics Wallah, founded in 2020, is one of India’s many education

technology, or ed-tech firms, that offers free and paid-for courses for various

competitive examinations in India. The company aims to differentiate itself by

offering courses that on average cost less than $50, in order to be accessible

to more students in the country.

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Hindusthan Samachar / Nimish kumar