Khaitan & Co advised Lightspeed Venture Partners in relation to investment by Lightspeed with the lead investor, Hornbill Capital Partner Private Limited and other co-investors which included Westbridge Capital and GSV Capital in PhysicsWallah Private Limited, for an aggregate amount of approximately USD 210 million as part of their Series B funding round..
The core team consisted of Bharat Anand (Partner), Nidhi Killawala (Partner), Ayushi Mishra (Principal Associate) and Ishaan Chopra (Associate) with assistance from the following:
Indian competition law aspects: Pranjal Prateek (Partner), Soham Banerjee (Principal Associate), Rishabh Vohra (Associate) and Shubhanshu Jain (Associate);
Education law related aspects: Sanchit Agarwal (Partner).
The Firm assisted Lightspeed in examining the business model of PhysicsWallah from an Indian law perspective; assisted Lightspeed in reviewing the legal due diligence report for PhysicsWallah, from an Indian law perspective and proposed changes to the transaction documents; and advising Lightspeed on the Indian competition law aspects of the transaction.
Media Links / Press Releases
https://entrackr.com/2024/09/physics-wallah-raises-210-mn-in-series-b-valuation-soars-to-2-8-bn/
https://www.moneycontrol.com/news/business/startup/physicswallah-raises-210-million-in-funding-at-2-8-billion-valuation-12826132.html
https://www.thehindubusinessline.com/companies/physicswallah-raises-210-million-at-a-valuation-of-28-billion/article68663250.ece
https://www.ndtv.com/business-news/physicswallah-raises-210-million-valuation-jumps-2-5-times-to-2-8-billion-6609066