Indian education technology startup Physics Wallah announced on Friday that it had raised $210 million as it looks to expand its business, in part via acquisitions, amid troubles in the sector.
The funding, led by Hornbill Capital, and involving Lightspeed Venture Partners, GSV and WestBridge, values the company at $2.8 billion, a significant increase from its last valuation of $1.1 billion.
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.
Pandey said the company is open to acquisitions provided it gives them access to new content and users.
Last year, Physics Wallah brought a 50% stake in Xylem Learning, an ed-tech company headquartered in Kerala in south India.
Persons:
…, Alakh Pandey, Pandey, Wallah
Organizations:
Hornbill Capital, Lightspeed Venture Partners, CNBC, YouTube
Locations:
India, Kerala