Rapidly growing edtech unicorn Physics Wallah has raised $210 million investment in its Series B funding round, raising the valuation to an impressive $2.8 billion. The reports reflected that this round has been recorded as the largest funding round of the edtech sector after 2022.

It was led by hedge fund Hornbill Capital, Lightspeed Venture Partners, and existing investors GSV and WestBridge. This has placed the valuation at $2.8 billion, having the company valuated about $1.1 billion June 2022.

Physics Wallah has secured more than $310 million with the addition of the latest fundraise. The fundraise also included a secondary deal worth $35 million wherein some of the shares were allowed to be sold by founders and employees. Going forward, the company would look to primarily use new funds raised for acquisition purposes, building out strategically in the formal K-12 space and consolidating its position as an education player through inorganic growth.

Physics Wallah currently reaches more than 46 million students across its online, offline, and hybrid platforms, with 5.5 million paid learners; runs 180 physical centers; and is establishing 105 tech-enabled centers across India.

While the edtech sector faces numerous challenging situations, such as a massive drop of 91% in profit in FY23, all because of rising costs, Physics Wallah had an impressive jump of 243% – ₹108.04 crore in the same year. According to the group’s co-founder, FY25 will be the largest EBITDA profitability for the group so far, which speaks for how much the momentum has been great.

We were swayed by the passion shown by new and existing investors in this round. We are excited to have partners who share our values and vision of creating societal impact through quality education at scale,” said Abhishek Mishra, Chief Strategy Officer, Physics Wallah.