Edtech firm PhysicsWallah has inked a long-term agreement to form a joint venture with Jodhpur-headquartered Utkarsh Classes, according to a statement.
With this venture, the companies plan on leveraging each other's core competencies to deliver value-adding education across all examinations and jointly make a foray into new exam categories.
PhysicsWallah Founder and CEO Alakh Pandey, said, Our collaboration will help us better serve students across India and make their learning experience more enriching.
Both companies have a strong digital presence and operate multiple YouTube channels for various exam categories. Utkarsh Classes has over 11 million subscribers on its main channel on YouTube, and PhysicsWallah has more than 9.7 million subscribers on its main channel.
Further, both companies cater to over 1 crore students each on their apps. Founder and CEO of Utkarsh Classes, Nirmal Gehlot noted that founders of both companies come from a humble background, and 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," Gehlot said.
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The offerings provided by both companies are complementary, and the knowledge sharing across the organisations will strengthen this venture, the statement added.
This joint venture will also facilitate the provision of study material from PhysicsWallah (PW) to Utkarsh Classes, and will plan to introduce co-branded education products.
Both companies will also jointly provide academic training and course offerings in various categories. The statement pointed out that Utkarsh Classes will continue to lead the expansion of the government test preparation category and launch offline centres in 32 cities across India, where PW has already established its offline centres (Vidyapeeths), which provide JEE and NEET preparation to students.
Utkarsh Classes will launch state government job-focused offline and online courses in these cities.
"PW will expand its outreach by opening more Vidyapeeths, currently present in 32 cities, and will continue scaling up in the all-India competitive exam categories," the statement said.
In addition, PW and Utkarsh Classes will together launch a new category 'Utkarsh Private Jobs', which will help in training students to prepare for their placements in the private sector.
"Utkarsh Classes, which has been operating offline classes for over 20 years, will assist PW in strengthening its offline operations and building a robust hybrid learning model," it said.
In turn, PhysicsWallah will leverage its technology team of over 300 engineers to optimise the technology advancements for Utkarsh Classes and assist in developing the mechanism for the delivery of study material for the company.
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