Kalpathi Group eyes Rs 1,000 cr ARR in 3 years from new ed- tech venture 'Veranda'

Veranda is a unique platform that would combine the best of technology, processes and methodologies to deliver high quality content seeking to be India's first to offer a comprehensive 360-degree education. The Indian on-line education market, supported by macro-economic changes, improvements in product offerings and changes in business models, is expected to grow to USD 1.96 billion by 2021 and to USD 4.87 billion by 2024, he said.


PTI | Chennai | Updated: 02-12-2020 15:41 IST | Created: 02-12-2020 15:41 IST
Kalpathi Group eyes Rs 1,000 cr ARR in 3 years from new ed- tech venture 'Veranda'
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Chennai, Dec 2 (PTI): The Kalpathi Group, the city- based company engaged in software services, property development, finance and education for over two decades, was eyeing to garner Rs 1,000 crore revenue in three years with the launch of its new education technology venture - Veranda, a top official has said. "With Veranda we aim to establish an education company of choice for our customers who need a committed partner to drive their success by offering affordable, best in class and focused online content," Veranda co-founder Suresh Kalpathi said.

The intent was to be a reliable provider in delivering outcomes for those who opt for the courses offered by them, he said. Veranda is a unique platform that would combine the best of technology, processes and methodologies to deliver high quality content seeking to be India's first to offer a comprehensive 360-degree education.

The Indian on-line education market, supported by macro-economic changes, improvements in product offerings and changes in business models, is expected to grow to USD 1.96 billion by 2021 and to USD 4.87 billion by 2024, he said. Veranda is ideally placed to play a dominant role in the education industry, he said.

"Being built with an initial investment of Rs 50 crore, Veranda plans to expand its portfolio through organic development and acquisitions. We are targeting an annual recurring revenue of Rs 100 crore in the first full year of our operations and Rs 1,000 crore ARR in three years from now," he said. The company was working on multiple acquisitions which they would announce in coming weeks, Kalpathi said.

Veranda would be taking a 360-degree approach to the learning process which includes subject experts to deliver weekly lectures to students. Each student would have a counsellor assigned to them to ensure that the student stays on track of the course and is motivated to complete deadlines on time, he said.

Veranda would also be using AI (artificial intelligence) for quizzing, where the difficulty of questions would change depending on the performance of the student.PTI VIJ SS PTI PTI.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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