A senior corporate official revealed on Monday that Physics Wallah, an edtech startup, has opened 50 offline centers under the “Vidyapeeth Centres” brand with an investment of about Rs 82 crore. In the upcoming academic year, the business also intends to distribute scholarships worth roughly Rs 160 crore.
“We have added 50 Vidyapeeth Centres with a $10 million (Rs 82 crore) investment.” To assist students in achieving their objectives, we will leverage both internal technological innovation and offline alternatives.
Vidyapeeth centers will provide help for more than 15 hours each day, and students will also be able to escalate any issues to our central office via the PW app, according to Prateek Maheshwari, a co-founder of PW, who spoke to PTI.
650 smart classrooms make up the tech-integrated offline school Vidyapeeth.
11 Vidyapeeth centres are already being handled by the edtech unicorn in different cities across the nation.
“Vidyapeeth now provides high-quality education to students in rural areas of the nation, enabling them to finish their studies in their home cities.” The founder of PW, Alakh Pandey, said, “We want to help parents save money that would have been spent on hostel fees and other living expenses, which are typically twice as much as academic fees.”
The Vidyapeeth centers will provide students with consistent daily practice problems, video quizzes, and homework monitoring, all of which may be accessed on the parent-student dashboard. After every class, PW will also upload all of the lectures to its app.
The company has over 90,000 registrations in the present academic year and hopes to achieve 1.5 lakh during the session for JEE, NEET, and foundation test preparations.
In a statement, the firm revealed that, for the academic year 2023-2024, it gave meritorious students and those who could not afford a high-quality offline education scholarships worth USD 12 million (about Rs 98 crore) through the PW Scholarship and Admission Test (SAT).
In the upcoming school year, the business plans to award more scholarships totaling USD 20 million (about Rs 160 crore), according to PW.
The edtech unicorn PhysicsWallah, run by well-known YouTube teacher Alakh Pandey, was previously reported to be attempting to enhance its firm valuation to $3.3 billion, a huge rise from its existing value of $1.1 billion. The sources—who requested anonymity—also disclosed that PhysicsWallah is currently in discussions with a number of private equity (PE) investors. It is also anticipated that the company’s current backers, GSV Ventures and WestBridge Capital, will raise their stake.
Learn More-PhysicsWallah looks to raise $250 million at a valuation of $3.3 billion
