Chennai-based Kalpathi Group on Tuesday announced the launch of its new ed-tech venture Veranda Learning Solution, a 360-degree online education platform.
Being set up with an initial investment of Rs 50 crore, Veranda plans to expand its portfolio through organic development and acquisitions. The firm is targeting an annual recurring revenue (ARR) of Rs 100 crore in the first full year of operations, and Rs 1,000 crore ARR in three years. It is working on multiple acquisitions, which will be announced in the coming weeks.
Kalpathi Group has owned and managed various businesses over the past 25 years which include, education, software services, property development, finance, and entertainment.
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. Our intent is firmly on being a reliable provider delivering outcomes for all those who opt for our courses.”
In 1991, Suresh Kalpathi along with his two brothers Kalpathi S Aghoram and Kalpathi S Ganesh set up SSI Ltd as an IT training provider in Chennai. This grew to be one of the world’s largest education networks for vocational training in the private sector. SSI later acquired Aptech and grew into a global provider of education, consultancy and software services. SSI went on to become the first Indian IT company to be listed on the London Stock Exchange.
Kalpathi Group runs a VC fund called Kalpathi Investments, with investments in multiple sectors including affordable housing, health care services, IT, agriculture, and dairy and the AGS brand in the entertainment business that includes production, distribution, and exhibition being now one of the largest production houses in south India and the largest privately owned multiplex chain in Tamil Nadu. The group also owns a renewable energy business under the name of Dindigul Renewable that supplies power to large corporations such as Hyundai Motors.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.