Edtech giant PhysicsWallah has revealed its latest endeavors to amplify education accessibility. With the launch of 26 new PW Vidyapeeth centers throughout India, the company aims to establish a stronger presence. Additionally, they have introduced scholarships valued at INR 200 Cr via the PWNSAT 2023 program (Physics Wallah National Scholarship cum Admission Test).
Building on Previous Growth
Following their earlier announcement about inaugurating 50 new PW Vidyapeeth centers in May, this move marks another significant stride. Having initiated its first offline center in June 2022 in Kota, Rajasthan, PW Vidyapeeth presently operates across 67 centers in 38 Indian cities, catering to an impressive student count of nearly 1.5 Lakh students.
Investment and Development Focus
PhysicsWallah’s strategic investment of $10 Mn in PW Vidyapeeth serves as a testament to their dedication. The investment will be split into two phases, with an initial $5 Mn allocated to infrastructure setup for the school-integrated course. The remaining $5 Mn will be dedicated to content creation, pedagogy enhancement, and academic advancement for schools.
PhysicsWallah Empowering Diverse Student Groups
The PWNSAT initiative sets the stage for inclusivity by offering the scholarship cum admission test both online and offline. The test welcomes students from grades 6 to 12, as well as those preparing for JEE or NEET exams after leaving school.
A Hybrid Approach for Enhanced Reach
Ankit Gupta, CEO of Vidyapeeth Offline at PhysicsWallah, emphasized their belief in the hybrid approach for education’s future. The expansion of tech-driven offline Vidyapeeth centers across various cities aligns with the goal of bringing quality education to students’ doorsteps. Gupta asserted that this approach eliminates the need for students to relocate to distant educational hubs.
Gupta shared that the previous year witnessed more than 1.1 Lakh students benefiting from PWNSAT scholarships worth INR 120 Cr. To continue this momentum, PhysicsWallah plans to provide scholarships worth INR 200 Cr this year.
PhysicsWallah Commitment to Growth:
In 2020, Alakh Pandey and Prateek Maheshwari founded PhysicsWallah. It positioned itself as a competitor in competitive exam preparation, rivalling giants like BYJU’S and Unacademy. In June 2022, the edtech startup became a unicorn. Westbridge and GSV Ventures invested $100 Mn, valuing PhysicsWallah at $1.1 Bn.
With substantial financial backing, PhysicsWallah embarked on a trajectory of expansion and diversification. Notably, they made seven acquisitions since August 2022, with their most recent being Xylem Learning in June 2023, as they ventured into South India. The company also invested INR 100 Cr in its UPSC vertical and INR 120 Cr in PW Skills, their skill development initiative.
Remarkably, PhysicsWallah stands as India’s lone profitable edtech unicorn, reporting a net profit of INR 97.8 Cr in FY22—an impressive increase of 14 times from INR 6.9 Cr in FY21. This financial strength highlights the company’s resilience and growing influence within the edtech landscape.
