New Delhi, 19th June 2023: Physics Wallah (PW), an edtech unicorn, has formed an important partnership with Kerala-based Xylem Learning in order to increase its position in the southern market.
As part of the agreement, the corporation will invest Rs 500 crore over a three-year period to expand its presence in the southern region.
Alakh Pandey Founder and CEO of PW said, “In three years, we will invest Rs 500 crore to propagate the brave and unique Xylem model of hybrid learning to other adjoining sister states. To do this, it will require robust team building, content development, technological innovation, expansion in other categories and hybrid centres.”
He further added, “We will also look at M&As (merger and acquisitions) in south.”
Xylem Learning, founded by Dr Ananthu S, a 26-year-old MBBS graduate, operates in the exam prep area, preparing students for NEET and JEE. Over three million students, according to the startup, have access to free NEET/JEE exam preparation lessons via YouTube.
Furthermore, it has over 1 lakh paying students enrolled in its different online courses and 30,000 students enrolled in its hybrid centres located in five main districts of Kerala.
The collaboration with PW comes at a time when the company is planning to grow into Tamil Nadu, Andhra Pradesh, and other southern markets, which will require major expenditures.
Ananthu S. said, “We aim to achieve Rs 300 crore revenue with
25% ebitda in FY24, up from Rs 150 crore in FV23.”
