The largest edtech fundraise in the last two years has pushed the valuation of Physics Wallah (PW) to $2.8 billion, a more than two-fold increase from $1.1 billion earlier.
The Noida-headquartered education company announced a $210-million fundraise on Friday at the close of a Series-B round, that changed the pecking order in the Indian edtech space.
PW, which has said the current financial year will mark the "largest absolute profitability" for the group, has now replaced Upgrad as the third largest edtech firm in terms of valuation. Unacademy and Eruditus occupy the top two slots as Byju's went into insolvency. In 2022, Byju's was valued at $22 billion.
PW co-founder Prateek Maheshwari said the funding will enable the company to improve reach and technology.
"This comes on the back of strong, sustainable year-onyear (Y-o-Y) growth. In fact, FY25 is going to be the year of the largest absolute profitability for the PW group. There are no good or bad markets, only good or bad stories, and ours is a great impact story," Maheshwari added.
Though the funding would help PW to pursue inorganic expansion, it is more cautious than ever for keeping track of capital allocation.
Abhishek Mishra, chief strategy officer of PW, said the funding would help the firm to enhance its content and publication offerings, and explore mergers with community-driven education platforms.
هذه القصة مأخوذة من طبعة September 21, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 21, 2024 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Changes in policy terms must be conveyed
Mustafa Pithawala had taken a home loan of ₹20,11,101 from Tata Capital Housing Finance on October 19, 2015. To secure its repayment, he was covered under ICICI Lombard Group Secure Mind Policy, valid from October 23, 2015, to October 22, 2020. This policy also covered personal accident and major medical illnesses and procedures such as coronary artery bypass graft surgery (CABG).
Low valuation sparks interest in IndusInd
Analysts believe worst may be over for lender after sombre Q2 results
Demand, margin gains ahead for UPL
Agrochemicals manufacturer UPL reported a muted quarter as operating profit remained flat on a year-on-year (Y-o-Y) basis, due to a price decline (down 7 percent Y-o-Y) and surplus capacity in China.
Exchanges roll back direct payout of securities to client accounts
The National Stock Exchange (NSE) and BSE on Tuesday announced rollback of the direct payout of the securities to client demat accounts—which was enabled on November 11.
Swiggy makes market debut today
Shares of food delivery major Swiggy will make stock market debut on Wednesday following its ₹11,327 crore initial public offering (IPO), second biggest this year and sixth-largest to hit the domestic market.
NTPC Green Energy IPO eyes $12 bn Valuation
NTPC Green Energy Ltd is considering seeking a valuation of about $12 billion in what could be one of India's biggest initial public offerings (IPO) in the renewable energy industry, according to people familiar with the matter.
Sebi simplifies process for registration of certain FPIs
Abridged version of application form to be available in 3 months
11 of 17 Nifty sector indices in correction mode
As many as 11 of 17 frontline Nifty sector indices are in 'correction' mode with energy, auto and central public sector enterprises (CPSE), consumption, and fast-moving consumer goods (FMCG) suffering the most in the recent market fall, according to data.
Nifty falls to near 5-month low
Earnings disappointment and foreign outflows continue to weigh on markets
BITING THE BULLET
The Bullet Train has been a 'dream project'. Can it become a reality anytime soon?
