EdTech firm Physics Wallah has set up 50 offline teaching centres branded as Vidyapeeth Centers. The company has made an investment of around Rs 82 crore for technology at these new units, a senior company official said on Monday, May 1.
The company also plans to roll out scholarships worth around Rs 160 crore in the next academic year.
"We have added 50 Vidyapeeth Centres with an investment of USD 10 million (Rs 82 crore) in technologies at these centres. We will be leveraging in-house tech innovation and offline solutions to help students achieve their goals,” the official said.
"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 Physics Wallah app," Physics Wallah Co-founder Prateek Maheshwari told PTI.
Explaining ‘Vidyapeeth’
Vidyapeeth is a tech-integrated offline classroom comprising 650 smart classrooms. The EdTech unicorn is already running 11 Vidyapeeth centres in various cities across the country.
Through Vidyapeeth, says the Physics Wallah, top-quality education is made accessible to students in remote parts of the country, enabling them to study in their own cities.
"We aim to help parents save money that would have been spent on hostel fees and other living expenses — which is typically twice the amount of academic fees," PW Founder Alakh Pandey said.
The Vidyapeeth centres are also said to offer students regular daily practice problems, video quizzes and homework monitoring, which can be accessed on the parent-student dashboard. Additionally, Physics Wallah will upload all lectures on its app after every class.
The company has crossed over 90,000 registration in the current academic year and aims to reach 1.5 lakhs during the session for JEE, NEET, and foundation exams preparations.
The company, in a statement, shared that it has provided scholarships worth USD 12 million (about Rs 98 crore) through the PW Scholarship and Admission Test (SAT) in the 2023-24 academic year to meritorious students and also those who cannot afford quality offline education.
"The company further aims to give such scholarships worth USD 20 million (about Rs 160 crore) in the next academic year," they said.
