PhysicsWallah Invests Rs 500 Crore In Kerala's Xylem Learning
Edtech unicorn PhysicsWallah has invested Rs 500 crore in Xylem Learning, a Kerala-based competitive exam coaching company, to expand the company's footprint in southern India.
Noida-based PhysicsWallah will invest the amount over three years. The Rs 500 crore deal is a combination of cash and equity, but the company didn't disclose the stake it has acquired in Xylem.
The company will look at further mergers and acquisitions in the south, said Alakh Pandey, chief executive officer and founder of PhysicsWallah, in a statement.
Xylem's founder and CEO, Ananthu S., will lead PhysicsWallah's southern expansion.
"Xylem Learning brings deep experience and a strong presence to the Kerala market ... and will now expand to Tamil Nadu, Andhra Pradesh, and other southern markets," PhysicsWallah said in its statement.
Xylem Learning, through its YouTube channel, provides free classes for NEET and JEE preparation and has one lakh paying students across offline and online courses. It also offers coaching for commerce-based competitive exams. With the investment, Ananthu S said that Xylem will aim to touch Rs 300 crore in revenue for FY24, up from Rs 150 crore in the previous fiscal.
While it isn't clear whether Xylem is an acquisition, the Alakh Pandey-led company has been on a buying spree. In the last 12 months, it acquired the U.A.E.-based K-12 online and offline learning startup Knowledge Planet, as well as iNeuron, Altis Vortex, PrepOnline, and FreeCo.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
