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PH
HISTORICAL P100 / #85

PhysicsWallah

Edtech · India

Historical ranking valuation$2.80BSource snapshot: Jun 19, 2026
Financing events5
Named participants4
Captables stories1

Disclosed primary funding in this record

$100M

Sum of non-overlapping disclosed USD amounts in confirmed primary financing entries in this record, including separately labeled equity components; not verified lifetime funding. Excludes amounts already included in a later round, announced, reported, database-only, debt, secondary and unclassified events.

1 confirmed primary rounds with disclosed USD amounts · Record through 2026-09-28
THE BUSINESS

Get to know PhysicsWallah.

PhysicsWallah provides online courses, study content and technology-enabled in-person and hybrid education centers in India. Its own February 2026 shareholder release states that shares listed on the NSE and BSE in November 2025; this historical private-company catalog entry is not a current-private claim.

PhysicsWallah public-company results release ↗Source checked Sep 24, 2026

Valuation history

Valuations reported at the time of each round.

$2.8 billionSeries B (mixed financing) · ConfirmedSource ↗
$1.1 billionSeries A · ConfirmedSource ↗

Funding history

Funding rounds, debt and other financing events.

3sourced events · record as of 2026-09-28

PhysicsWallah Limited says it listed on NSE and BSE on November 18, 2025. Its June 2026 private-company source rank is a historical source error, not current private P100 eligibility. The IPO prospectus distinguished 284,468,537 newly issued shares from 34,862,384 founder-held shares offered for sale at INR 109; the founder sale was not new issuer capital. The IPO is not private-company funding. The founder states $100M for maiden funding; a later report's $102M differs and is not an extra round. The issuer's Series B is over $210M and its linked original report describes mixed primary/secondary financing; the issuer-cash allocation is undisclosed, so no exact B proceeds enter the confirmed-primary subtotal. Two secondary imports remain database-only; the September observation may overlap B, not additional capital. The $100M source-stated primary subset is not verified lifetime funding. This is not an independently reviewed complete history, exact subscribing-vehicle list or current shareholder register. Source rights and full historical reconciliation remain open.

Sep 202402
primary

Series B (mixed financing)

Hornbill Capital · Lightspeed Venture Partners · GSV Ventures · WestBridge Capital

Source published Sep 20, 2024; not a financing date

The issuer says over $210M, not exactly $210M. Its September 20 post links to Moneycontrol's original report (https://www.moneycontrol.com/news/business/startup/physicswallah-raises-210-million-in-funding-at-2-8-billion-valuation-12826132.html), which describes primary and secondary transactions. The complete headline is not all fresh issuer proceeds; no exact primary cash or allocation is established. September 1 is a month storage anchor, not an authenticated closing day; September 20 is publication. The issuer thanks four investors without assigning lead roles or identifying subscribing legal vehicles. These are financing participants, not current shareholders. The separate imported $35M secondary may be part of this event; it is not added to B or treated as separately verified.

AmountOver $210M; primary/secondary split undisclosedValuation$2.8 billion
Jun 202201
primary

Series A

GSV Ventures · WestBridge Capital

Source published Dec 31, 2022; not a financing date

The founder states $100M maiden funding from GSV Ventures and WestBridge Capital. Moneycontrol's original June 7, 2022 company-attributed report (https://www.moneycontrol.com/news/business/startup/physicswallah-raises-100-million-from-westbridge-gsv-ventures-joins-unicorn-club-8653681.html) names Series A and $1.1B valuation. June 1 is a month storage anchor, not an authenticated closing day. The founder's December 31 retrospective is not another December round. The imported $102M is not corroborated by the founder or original 2022 report; the later 2024 report repeats $102M, leaving an unresolved amount variance rather than extra proceeds. The source-stated $100M is not an authenticated bank receipt or exhaustive legal ledger. Names are not exact subscribing legal vehicles or proof of current ownership; no lead roles are inferred.

Amount$100MValuation$1.1 billion
Unverified database leads (2)

These database claims have not been independently verified and are excluded from the sourced-event count.

Nov 2025UNVERIFIED
secondary

Secondary Market

Investor participation not independently verified

Amount$16,170,000ValuationNot publicly disclosed
Sep 2024UNVERIFIED
secondary

Secondary Market

Investor participation not independently verified

Database-only secondary observation: possible component of Series B, not an established additional transaction. Its precise amount, date, parties and overlap are unresolved; no issuer primary proceeds arise from this imported row.

Amount$35,000,000ValuationNot publicly disclosed

Financing participants

Investors, lenders and other parties named in funding announcements.

Hornbill Capital

Series B (mixed financing) · Sep 2024 · Participant · primary · Confirmed · Confirmed source ↗

Lightspeed Venture Partners

Series B (mixed financing) · Sep 2024 · Participant · primary · Confirmed · Confirmed source ↗

WestBridge Capital

Series B (mixed financing) · Sep 2024 · Participant · primary · Confirmed · Confirmed source ↗

Series A · Jun 2022 · Participant · primary · Confirmed · Confirmed source ↗

Ownership evidence

Opening ownership research…

Captables coverage

Deals / Captables

PhysicsWallah's latest round: $210M Series B

PhysicsWallah's latest public financing record lists $210,000,000 in its Series B dated September 20, 2024 at a reported valuation of $2.8 billion. Captables places the event in the company's disclosed funding history.

Captables Newsroom · 58d ago
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