Edtech firm has launched 50 offline centres across India, with an investment of $10 million in tech innovation, to aid offline coaching.
The company said the technology-integrated 650 smart classrooms across the 50 offline centres, or Vidyapeeth centres, will enable it to reach out to a larger student base and help them prepare for the upcoming JEE and NEET exams with an improved experience.
“Through Vidyapeeth, top-quality education is made accessible in remote parts of the country by enabling them to study in their own cities,” said Alakh Pandey, Co-founder of PhysicsWallah, in a statement.
“We aim to help parents save money that would have been spent on hostel fees and other living expenses–which are typically twice the amount of academic fees,” he added.
Meanwhile, PhysicsWallah has awarded $12 million worth of scholarships through Scholarship and Admission Test in the 2023-24 academic year to meritorious students for offline education, the company said, adding that it aims to reward $20 million in the next academic year.
The new offline centres have opened in Delhi, Jammu and Kashmir, Punjab, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh, Bihar, Assam, Jharkhand, West Bengal, Madhya Pradesh, Gujarat, Chhattisgarh, Odisha, Maharashtra, and Karnataka.
The centres will offer students daily practice problems, video quizzes, and homework monitoring, which can be accessed on the parent-student dashboard, according to the company.
Prateek Maheshwari, Co-founder of PhysicsWallah, said the company has invested in tech innovation to help students achieve their goals.
“Vidyapeeth centres will offer support for more than 15 hours a day, and students will also have the provision to escalate any issue to our head office via the PW (PhysicsWallah) app,” he said.
The edtech firm said it plans to recruit over 1,200 faculty members across the country to provide robust training for standardised content delivery and better results.
PhysicsWallah has been a rare profit-making edtech startup since its incorporation in 2020, registering a 14-fold jump in the fiscal year 2021-22. For the just-concluded 2023 financial year, Maheshwari expects the edtech unicorn to register a “sizeable profit” riding a three-fold increase in revenue to about Rs 780 crore ($95 million).
For the ongoing financial year (FY2023-24), the company is targeting revenue of Rs 2,500 crore ($300 million) at the group level, Maheshwari recently told YourStory in an interaction.
