CosmicTaco

PhysicsWallah's Valuation Skyrockets to $2.8 Billion Amid New Funding

CosmicTaco · 2024-09-09T11:32:33.030212+05:30

- PhysicsWallah is set to raise $150 million led by Hornbill Orchid, valuing the firm at $2.8 billion. - This marks a 2.5x increase from its last valuation in 2022 when it raised $102 million at $1.1 billion. - Hornbill Orchid will contribute $70-80 million, with Lightspeed Venture Partners also participating. - Despite a 91% drop in profits in FY23, the company aims to hit Rs 2,400 crore in revenue for FY24. - The ed-tech sector faces challenges, including funding slowdowns and corporate governance issues. Source: [The Arc](https://thearcweb.com/article/physicswallah-alakh-pandey-hornbill-orchid-lightspeed-4EN35JlQnHYEDas1)

PhysicsWallah is set to raise $150 million led by Hornbill Orchid, valuing the firm at $2.8 billion.
This marks a 2.5x increase from its last valuation in 2022 when it raised $102 million at $1.1 billion.
Hornbill Orchid will contribute $70-80 million, with Lightspeed Venture Partners also participating.
Despite a 91% drop in profits in FY23, the company aims to hit Rs 2,400 crore in revenue for FY24.
The ed-tech sector faces challenges, including funding slowdowns and corporate governance issues.

Source: The Arc