Hornbill Capital led a $210m Series B round in Physics Wallah.

Hornbill Capital, a hedge fund, led a $210m Series B round in Physics Wallah, an Indian edtech startup, with participation from Lightspeed Ventures, WestBridge and GSV. “The current fundraising process and the private market landscape have changed significantly compared to 2021 and early 2022. Back then, private markets were much more liberal, particularly regarding valuations. However, in the current environment, there is still considerable interest in high-quality assets, especially for businesses with strong core fundamentals in place,” Prateek Maheshwari, Physics Wallah Co-Founder.