PhysicsWallah Signs JV With Utkarsh Classes To Jointly Foray Into New Categories

Edtech startup PhysicsWallah has signed a long-term joint venture (JV) with Jodhpur-headquartered test prep platform Utkarsh Classes to jointly scale operations and offerings.

The move will enable both startups to leverage synergies and core competencies to jointly foray into new categories and deliver value addition to students across multiple exam categories. A joint statement noted that the offerings provided by both startups are complementary, adding that knowledge sharing across the two players will strengthen the JV. 

As part of the deal, the two platforms will launch co-branded educational products and provide academic training and course offerings in various categories. Besides, the joint venture will also facilitate study material from PhysicsWallah to Utkarsh Classes. 

Utkarsh Classes will also help PhysicsWallah scale up offline play and build a robust hybrid learning model. Meanwhile, Utkarsh Classes will leverage PhysicsWallah’s technology base to optimise technological advancements and aid in delivering study material. 

Under the agreement, Utkarsh Classes will expand its online test preparation offerings and launch offline centres in 32 cities across the country, where PhysicsWallah already has an offline presence.

The two startups have also announced that they will together launch a new category to help students prepare for private sector jobs.

“Both PW and Utkarsh Classes are an emotion for students. The founding teams have a solid vision of providing result-oriented quality education to every student in the country at an affordable fee. Utkarsh Classes Founder Nirmal Gehlot sir has an extensive experience of over 20 years in the field. Our collaboration will help us better serve students across India and make their learning experience more enriching,” said PhysicsWallah cofounder and chief executive officer (CEO) Alakh Pandey.

Chiming in, the founder and CEO of Utkarsh Classes, Nirmal Gehlot, said, “The founders of both the companies come from a very humble background. Alakh sir and I started our journey as teachers and hence, have academics at our core. We both understand the challenges faced by students in their preparation journey. I truly believe that our ‘Student First’ policy will enable this partnership to solve bigger problems in the education sector.”

Founded in 2020 by Alakh Pandey and Prateek Maheshwari, PhysicsWallah is an edtech startup that prepares aspirants for examinations such as NEET, JEE, GATE, UPSC, and CDS, among others. 

PhysicsWallah claims to have more than 12M subscribers across 37 YouTube channels and more than 10 Mn app downloads. The company claims that its educational content is available in nine languages, including Hindi, English, Marathi, and Telugu, among others.

The Noida-based edtech player turned unicorn in June last year after raising $100 Mn in a Series A funding round from Westbridge and GSV Ventures. 

Meanwhile, Utkarsh Classes is the brainchild of Nirmal Gelot who founded the startup in 2022. 

The two startups compete with edtech giants such as BYJU’S, Unacademy, Vedantu, and Adda247, among others. 

The JV comes at a time when the Indian edtech ecosystem is bogged down by mounting losses and scarce capital. This has forced many to cut corners and lay off employees to conserve capital. Despite the hiccups, India’s edtech sector poses a lucrative opportunity for startups and is projected to touch a market size of $10.4 Bn by 2025.