The city-based Kalpathi Group, has announced the launch of its new ed-tech venture Veranda Learning Solution, online education platform. Veranda comes from the Kalpathi AGS group that has experience in education, technology and top quality production.
Veranda is building an online platform to combine the best of technology, processes, and methodologies to deliver high-quality content. Focused on academic outcomes for its students, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework.
Suresh Kalpathi said, “with the launch of 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.” “The Indian online education market, supported by macro-economic changes, improvements in product offerings and changes in business models, is expected to grow to $1.96 billion by 2021 and to $4.87 billion by 2024. Veranda is ideally placed to play a dominant role in the education industry.
“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 (ARR) of Rs 100 crores, in the first full year of our operations and Rs 1000 crore ARR in 3 years from now. We are working on multiple acquisitions, which we will announce in the coming weeks,” he added.