According to reports, Edtech unicorn PhysicsWallah intends to invest $10 Mn (INR 82 Cr) over several instalments in its offline tutoring division Vidyapeeth School.
According to Imran Rashid, vice president of PhysicsWallah (PW), the edtech company would invest $5 Mn in the first phase to put up the infrastructure for its school-integrated course. The remaining $5 million will then be used for content creation, pedagogy development, and academic school improvement.
The company plans to invest 8–10 lakh rupees to set up the necessary infrastructure in each of these schools. By 2025–2026, PW hopes to reach 300 schools in Tier III and Tier IV cities and towns with its Vidyapeeth plan thanks to this capital infusion.
In order to capitalise on the growing physical tutoring centre concept and PW’s renewed focus on its offline vertical, the company made this decision. According to the Vidyapeeth concept, PW collaborates with current schools and offers regular classroom instruction along with tutoring for the CBSE exams and other competitive exams like the NEET and JEE.
By using technology to provide the edtech concept to the students, PW was founded in 2020 by Alakh Pandey and Prateek Maheshwari. PW primarily serves students studying for engineering and medical entrance exams.
With the introduction of Vidyapeeth Schools last year, the firm entered the offline market. Since then, it has expanded its offering to 39 schools across 34 districts in 10 states, including Uttar Pradesh, Maharashtra, Uttarakhand, Bihar, and Assam.
The business is reportedly in talks to raise at least $250 Mn at a valuation of $3.3 Bn, up roughly 3X from its previously reported valuation of $1.1 Bn from last year, after raising a massive $100 Mn in funding last year.
The edtech platform has been plagued by a number of worries recently, including the loss of star teachers and a damaged reputation as a result of a public altercation involving an edtech company and certain teachers. The fierce competition PW faces from established players like BYJU’S and Unacademy in both the internet and physical spaces has complicated issues.
