To acquire a 50% stake in Kerala-based hybrid learning platform Xylem Learning, edtech unicorn PhysicsWallah (PW) will invest Rs 500 crore over the following three years.
The Noida-based company said the investment is part of its strategy to increase its presence in South India. Ananthu S, the founder and CEO of Xylem, will oversee the South India business as part of the deal. From Rs 150 crore in FY23 to Rs 300 crore in FY24, Xylem intends to double its revenue.
This is the company led by Alakh Pandey’s sixth acquisition. It bought Knowledge Planet, an online and offline K-12 learning startup with a focus on NRIs in the Gulf, last year. Knowledge Planet provides test preparation products. Additionally, it has purchased businesses like iNeuron, Altis Vortex, PrepOnline, and FreeCo.
The test preparation company Xylem, which currently operates in Kerala and will soon expand to Tamil Nadu, Andhra Pradesh, and other southern markets, offers courses for exams like NEET and JEE. Through its 30 YouTube channels, it offers over 3 million students free classes. Additionally, it has 30,000 students enrolled in its offline/hybrid centers spread out throughout Kerala and more than 100,000 paid students for a variety of online courses.
