Chennai-based, Rs 4000 crore worth business group, Kalpathi Group has launched a new ed-tech firm, Veranda Learning Solution, with an initial investment of Rs 50 crore.
Suresh Kapathi, one of the founders, has announced that the firm will hire 1,000 employees in one year, 75% of which would be regular staff.
Veranda Learning Solutions will offer classes and training programmes for all competitive exams in India as well as abroad, like NTSE, Olympiads, IIT-JEE, NEET, banking and civil services exams, etc. It will also offer courses in software development namely databases, languages, development tools, cloud/analytics/big data/AI/ML platform. The firm aims to provide these programmes at very affordable prices.
The Indian ed-tech market is expected to grow to USD 1.96bn by 2021 and USD 4.87bn by 2024.
Speaking on the occasion, Mr Suresh Kalpathi acknowledged this immense potential of ed-tech space and said, “Veranda is ideally placed to play a dominant role in the education industry… Veranda plans to expand its portfolio through organic development and acquisitions”.
The business group asserted that it is ready to invest more from its own pocket as well as rope in private players over the next few months for investment in the venture.
Veranda originates from Kalpathi AGS group which has immense experience in education and technology and has proved its expertise multiple times in the past. The 25-year old Group has business interests in education, software services, property development, finance and entertainment.
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