Image Credit: Entrepreneur
PhysicsWallah is talking with multiple PE investors for the funding round; existing shareholders GSV Ventures and WestBridge Capital will also increase their stakes
The Alakh Pandey-led startup, last valued at $1.1 Bn, has only raised one institutional round so far – its unicorn round of $100 Mn last year
PhysicsWallah reported a 14X YoY jump in its net profit to INR 97.8 Cr in FY22, while operating revenue grew 9.4X to INR 232.5 Cr
Edtech unicorn PhysicsWallah is reportedly in talks to raise at least $250 Mn at a valuation of $3.3 Bn, three times higher than its unicorn valuation of $1.1 Bn.
The Alakh Pandey-led edtech giant is looking to raise the funding at a time when the edtech sector is struggling amid the funding winter and decline in growth due to the reopening of schools, colleges and coaching centres after the pandemic.