Physics Wallah Raises New Funding; IPO Next

The edtech firm has raised $22-26 million at a valuation of $3.7 billion

- Sowmya Ramasubramanian & Mansi Verma

Edtech startup Physics Wallah has raised ₹200-230 crore ($22-26 million) in a secondary funding round led by existing investor WestBridge Capital, according to two persons in the know. The deal values the company at $3.7 billion—up from $2.8 billion just six months ago.

Physics Wallah is also expected to offer to buy back stock options awarded to about 1,000 employees, one of the two persons cited earlier said, both of whom spoke on the condition of anonymity. The deal was closed last month, they added.

A secondary transaction refers to the sale of existing shares by investors or employees to new or existing investors, without the company issuing new shares or raising fresh capital.