The city-based Kalpathi Group announced the launch of its new ed-tech venture,Veranda Learning Solution, an online education platform.
It will offer training programmes in test preparation for all competitive exams in India and abroad, and courses in software development namely databases, languages, development tools, cloud, analytics, big data, AI and ML platform and at an affordable price point.
“Being built with an initial investment of ₹50 crore, Veranda plans to expand its portfolio through organic development and acquisitions. Most of the investment is through internal resources,” Suresh Kalpathi, chairman, Kalpathi group told The Hindu.
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“We will go live this month. We are planning to offer 12 verticals, of which five will go live this. year. We are targeting an annual recurring revenue (ARR) of ₹100 crore in the first full year of our operations and ₹1,000 crore ARR in three years from now. We are working on multiple acquisitions, which we will announce in the coming weeks,” he said.
The Kalpathi Group’s has business interests in education, software services, property development, finance and entertainment. It also runs a VC fund called Kalpathi Investments.